What's Going On With Broadcom Shares Wednesday?

Broadcom Inc AVGO and Alphabet Inc. GOOGL Google Cloud revealed plans to support license portability of VMware Cloud Foundation to Google Cloud VMware Engine.

As per the deal, customers will be able to purchase subscriptions of the new VMware Cloud Foundation software from Broadcom and use those subscriptions in Google Cloud VMware Engine and their own on-prem data centers. 

Also, consumers will have the rights to the software subscription on the deployment of VMware Cloud Foundation on Google Cloud VMware Engine and can move their subscription between supported environments.

Krish Prasad, general manager, VMware Cloud Foundation division, Broadcom, said, “By running VMware Cloud Foundation on Google Cloud VMware Engine, customers benefit from a highly efficient cloud operating model that provides the scale and agility of public cloud with the security and performance of private cloud.”

Mark Lohmeyer, vice president and general manager, Compute and ML Infrastructure at Google Cloud stated, “Through this model, our customers can realize the unique benefits of Google Cloud VMware Engine, such as four 9’s cluster-level uptime, deeply integrated networking and a unified Google experience along with the full portfolio of Google Cloud services across AI/ML, data analytics, security, and more.”

Also Read: Nvidia, AMD, Broadcom Among Biggest Beneficiaries Of AI Explosion To $400B Market: Analysts

Price Action: AVGO shares are up 0.9% at $1,262.75 premarket on the last check Wednesday. 

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