Broadcom is moving its headquarters back to US from Singapore, says Trump

(Nov 3): President Donald Trump said semiconductor company Broadcom is returning its headquarters to the US from Singapore.

Broadcom Chief Executive Officer Hock Tan joined Trump Thursday in the Oval Office for the announcement. Tan said the move to domicile the company in the US would bring US$20 billion ($27.3 billion) in revenue into the country.

The two men didn’t specify the site of the new main location. Broadcom’s website lists San Jose, California, as an existing corporate co-headquarters and has done so since the present company was created in 2016 in one of the semiconductor industry’s largest acquisitions when Avago Technologies acquired then-Broadcom Corp. The company’s shares declined as much as 4% to US$248.87 after the announcement. The stock had gained 47% this year through Wednesday’s close.

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