+Follow
sebgoh
No personal profile
6
Follow
0
Followers
0
Topic
0
Badge
Posts
Hot
sebgoh
2025-12-08
Employees buying their own stationery? Not impressed.
Broadcom's Meteoric Rise: A 7-Fold Surge in 3 Years Under CEO Hock Tan's Iron-Fisted Leadership
Go to Tiger App to see more news
{"i18n":{"language":"en_US"},"userPageInfo":{"id":"4130047330533622","uuid":"4130047330533622","gmtCreate":1666944239034,"gmtModify":1764258369810,"name":"sebgoh","pinyin":"sebgoh","introduction":"","introductionEn":"","signature":"","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":6,"tweetSize":1,"questionSize":0,"limitLevel":999,"accountStatus":1,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"init","userBadges":[{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":1,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.01.06","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.11.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001}],"userBadgeCount":2,"currentWearingBadge":{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":1,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.01.06","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":6,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":508534437425224,"gmtCreate":1765175719559,"gmtModify":1765175814013,"author":{"id":"4130047330533622","authorId":"4130047330533622","name":"sebgoh","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4130047330533622","idStr":"4130047330533622"},"themes":[],"title":"","htmlText":"Employees buying their own stationery? Not impressed.","listText":"Employees buying their own stationery? Not impressed.","text":"Employees buying their own stationery? Not impressed.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/508534437425224","repostId":"1153181811","repostType":2,"repost":{"id":"1153181811","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1765024139,"share":"https://ttm.financial/m/news/1153181811?lang=en_US&edition=fundamental","pubTime":"2025-12-06 20:28","market":"nz","language":"en","title":"Broadcom's Meteoric Rise: A 7-Fold Surge in 3 Years Under CEO Hock Tan's Iron-Fisted Leadership","url":"https://stock-news.laohu8.com/highlight/detail?id=1153181811","media":"Deep News","summary":"Under the iron-fisted leadership of CEO Hock Tan, semiconductor giant Broadcom has transformed from an unremarkable chipmaker into a trillion-dollar behemoth, with its stock price soaring nearly...","content":"<p>Under the iron-fisted leadership of CEO Hock Tan, semiconductor giant Broadcom has transformed from an unremarkable chipmaker into a trillion-dollar behemoth, with its stock price soaring nearly sevenfold over the past three years.</p>\n<p>On December 5, tech media The Information published an in-depth profile detailing Broadcom's journey and its hard-nosed CEO. The article highlights how the 74-year-old executive, known for his ruthlessly pragmatic approach—slashing benefits, tightening cost controls, and relentlessly pursuing profitability—has positioned Broadcom as one of the few credible challengers to Nvidia in the AI chip market through its custom silicon business.</p>\n<p>After completing Broadcom's $84 billion acquisition of VMware, Tan famously introduced his management philosophy during a \"coffee chat\" with new employees. When asked whether Broadcom offered benefits like childcare or marriage counseling, he bluntly replied, \"Why would I do that? I'm not your father.\" Within months, about half of VMware's 38,000 employees were laid off, 18 office buildings were reduced to 5, and even coffee machines disappeared.</p>\n<p>This merciless efficiency has delivered tangible results. Last year, Broadcom's sales surpassed $50 billion—a 50% increase in just two years—with projections exceeding $60 billion this year. Its custom chip division, now accounting for roughly 60% of revenue, counts Google, OpenAI, and Meta among its marquee clients, propelling Broadcom into the elite club of 11 trillion-dollar companies worldwide.</p>\n<p>However, risks loom large. The sustainability of AI spending, competition from rivals like Marvell, and customers seeking cheaper alternatives could threaten Broadcom's dominance. Meanwhile, Tan stands to receive approximately $700 million in stock awards if he can grow AI-related revenue to $120 billion by 2030—a target most analysts believe he'll achieve.</p>\n<p>The M&A Machine's \"Diamonds vs. Trash\" Philosophy\nOver the past 15 years, Tan has acquired at least 11 companies, applying the same ruthless integration playbook each time. As billionaire hedge fund manager Philippe Laffont observed: \"He's the absolute best at identifying interesting targets, buying them, and executing the private equity playbook.\"</p>\n<p>Tan himself describes this methodology as separating \"diamonds\" from \"trash.\" Post-VMware acquisition, he slashed the product portfolio from 8,000 items to just four core offerings. He divested VMware's workplace virtualization unit and merged Carbon Black's cybersecurity business into Symantec—after cutting 80% of its staff.</p>\n<p>Internally, Tan implemented a brutal performance evaluation system. Quarterly all-hands meetings feature a slide ranking departments by revenue growth, with a red \"doom line\" marking the bottom third. Any unit lingering below this threshold risks restructuring—yet Broadcom's voluntary attrition rate remains just 2.9%, slightly above Nvidia's 2.7%, which former employees attribute to generous compensation including valuable RSUs.</p>\n<p>The company rarely hires interns or fresh graduates, preferring seasoned engineers who can outperform multiple junior staffers. Unlike tech peers with hundreds of VPs, Broadcom operates with fewer than 30 senior executives. Even office supplies are scarce at its Palo Alto HQ—employees reportedly buy their own rubber bands and markers.</p>\n<p>Custom Chips: Challenging Nvidia's Throne\nThe ChatGPT revolution breathed new life into Broadcom's once-stagnant chip business. Its ASIC chips—designed for specific tasks rather than general computing—offer greater efficiency and lower costs than Nvidia's GPUs, making Broadcom a rare credible challenger in the AI accelerator market.</p>\n<p>Google became Broadcom's flagship ASIC client in 2016. Typically, customers provide chip blueprints while Broadcom handles physical design and manufacturing with partners like TSMC. Engagement levels vary—Google handles more high-level design, while Broadcom assists other clients throughout the process.</p>\n<p>Recent deals with OpenAI and Meta have turbocharged growth. Last February, Tan joined Meta's board, and Microsoft is reportedly in talks to shift future chip designs from Marvell to Broadcom. However, some clients balk at Broadcom's premium pricing—Amazon previously switched to Marvell after contentious negotiations, while Google added MediaTek as a secondary supplier.</p>\n<p>Tan predicts AI could generate $60-$90 billion in new revenue by 2027. JPMorgan estimates the OpenAI partnership alone might yield $300 billion long-term. Meanwhile, Anthropic plans to deploy 1 million TPUs (chips co-designed by Broadcom and Google), and Meta is negotiating a multi-billion-dollar TPU investment for its data centers.</p>\n<p>From Malaysia to Silicon Valley: The Making of a Hard-Charging CEO\nLittle is known about Tan's personal life. Raised in modest circumstances during Malaysia's communist insurgency, he initially aspired to medicine before an MIT scholarship altered his trajectory. After earning engineering degrees and an MBA, he held finance roles at GM and PepsiCo before spending a decade in Asia.</p>\n<p>His turnaround of Integrated Circuit Systems—sold for $1.7 billion in 2005—caught Silver Lake and KKR's attention. They recruited him to lead Avago (a HP spinoff), where his austerity was legendary—one executive recalled a \"retreat\" at an airport hotel without food or water.</p>\n<p>In 2016, Tan pulled off his masterstroke: acquiring the better-known Broadcom for $37 billion. A $120 billion hostile bid for Qualcomm failed when the Trump administration blocked it over national security concerns—prompting Broadcom to reincorporate in the U.S.</p>\n<p>The Succession Question\nAs doubts persist about AI spending sustainability, another looming question concerns the 74-year-old CEO's succession. Tan has stated he'll remain CEO \"at least\" until 2030, with one former executive predicting he'll \"die at his desk like Charlie Munger.\"</p>\n<p>Still, signs point to preparations for a post-Tan era. Semiconductor Solutions Group president Charlie Kawwas—a PhD engineer who joined via the LSI acquisition—has taken higher-profile roles, including a recent OpenAI podcast alongside Sam Altman. While investors like Laffont joke about praying for Tan's health, Silver Lake's Ken Hao credits his success to \"focusing on first principles rather than conventional wisdom.\"</p>\n<p>The tech world watches to see whether Broadcom's ruthless efficiency can outlast its architect.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Broadcom's Meteoric Rise: A 7-Fold Surge in 3 Years Under CEO Hock Tan's Iron-Fisted Leadership</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBroadcom's Meteoric Rise: A 7-Fold Surge in 3 Years Under CEO Hock Tan's Iron-Fisted Leadership\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2025-12-06 20:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Under the iron-fisted leadership of CEO Hock Tan, semiconductor giant Broadcom has transformed from an unremarkable chipmaker into a trillion-dollar behemoth, with its stock price soaring nearly sevenfold over the past three years.</p>\n<p>On December 5, tech media The Information published an in-depth profile detailing Broadcom's journey and its hard-nosed CEO. The article highlights how the 74-year-old executive, known for his ruthlessly pragmatic approach—slashing benefits, tightening cost controls, and relentlessly pursuing profitability—has positioned Broadcom as one of the few credible challengers to Nvidia in the AI chip market through its custom silicon business.</p>\n<p>After completing Broadcom's $84 billion acquisition of VMware, Tan famously introduced his management philosophy during a \"coffee chat\" with new employees. When asked whether Broadcom offered benefits like childcare or marriage counseling, he bluntly replied, \"Why would I do that? I'm not your father.\" Within months, about half of VMware's 38,000 employees were laid off, 18 office buildings were reduced to 5, and even coffee machines disappeared.</p>\n<p>This merciless efficiency has delivered tangible results. Last year, Broadcom's sales surpassed $50 billion—a 50% increase in just two years—with projections exceeding $60 billion this year. Its custom chip division, now accounting for roughly 60% of revenue, counts Google, OpenAI, and Meta among its marquee clients, propelling Broadcom into the elite club of 11 trillion-dollar companies worldwide.</p>\n<p>However, risks loom large. The sustainability of AI spending, competition from rivals like Marvell, and customers seeking cheaper alternatives could threaten Broadcom's dominance. Meanwhile, Tan stands to receive approximately $700 million in stock awards if he can grow AI-related revenue to $120 billion by 2030—a target most analysts believe he'll achieve.</p>\n<p>The M&A Machine's \"Diamonds vs. Trash\" Philosophy\nOver the past 15 years, Tan has acquired at least 11 companies, applying the same ruthless integration playbook each time. As billionaire hedge fund manager Philippe Laffont observed: \"He's the absolute best at identifying interesting targets, buying them, and executing the private equity playbook.\"</p>\n<p>Tan himself describes this methodology as separating \"diamonds\" from \"trash.\" Post-VMware acquisition, he slashed the product portfolio from 8,000 items to just four core offerings. He divested VMware's workplace virtualization unit and merged Carbon Black's cybersecurity business into Symantec—after cutting 80% of its staff.</p>\n<p>Internally, Tan implemented a brutal performance evaluation system. Quarterly all-hands meetings feature a slide ranking departments by revenue growth, with a red \"doom line\" marking the bottom third. Any unit lingering below this threshold risks restructuring—yet Broadcom's voluntary attrition rate remains just 2.9%, slightly above Nvidia's 2.7%, which former employees attribute to generous compensation including valuable RSUs.</p>\n<p>The company rarely hires interns or fresh graduates, preferring seasoned engineers who can outperform multiple junior staffers. Unlike tech peers with hundreds of VPs, Broadcom operates with fewer than 30 senior executives. Even office supplies are scarce at its Palo Alto HQ—employees reportedly buy their own rubber bands and markers.</p>\n<p>Custom Chips: Challenging Nvidia's Throne\nThe ChatGPT revolution breathed new life into Broadcom's once-stagnant chip business. Its ASIC chips—designed for specific tasks rather than general computing—offer greater efficiency and lower costs than Nvidia's GPUs, making Broadcom a rare credible challenger in the AI accelerator market.</p>\n<p>Google became Broadcom's flagship ASIC client in 2016. Typically, customers provide chip blueprints while Broadcom handles physical design and manufacturing with partners like TSMC. Engagement levels vary—Google handles more high-level design, while Broadcom assists other clients throughout the process.</p>\n<p>Recent deals with OpenAI and Meta have turbocharged growth. Last February, Tan joined Meta's board, and Microsoft is reportedly in talks to shift future chip designs from Marvell to Broadcom. However, some clients balk at Broadcom's premium pricing—Amazon previously switched to Marvell after contentious negotiations, while Google added MediaTek as a secondary supplier.</p>\n<p>Tan predicts AI could generate $60-$90 billion in new revenue by 2027. JPMorgan estimates the OpenAI partnership alone might yield $300 billion long-term. Meanwhile, Anthropic plans to deploy 1 million TPUs (chips co-designed by Broadcom and Google), and Meta is negotiating a multi-billion-dollar TPU investment for its data centers.</p>\n<p>From Malaysia to Silicon Valley: The Making of a Hard-Charging CEO\nLittle is known about Tan's personal life. Raised in modest circumstances during Malaysia's communist insurgency, he initially aspired to medicine before an MIT scholarship altered his trajectory. After earning engineering degrees and an MBA, he held finance roles at GM and PepsiCo before spending a decade in Asia.</p>\n<p>His turnaround of Integrated Circuit Systems—sold for $1.7 billion in 2005—caught Silver Lake and KKR's attention. They recruited him to lead Avago (a HP spinoff), where his austerity was legendary—one executive recalled a \"retreat\" at an airport hotel without food or water.</p>\n<p>In 2016, Tan pulled off his masterstroke: acquiring the better-known Broadcom for $37 billion. A $120 billion hostile bid for Qualcomm failed when the Trump administration blocked it over national security concerns—prompting Broadcom to reincorporate in the U.S.</p>\n<p>The Succession Question\nAs doubts persist about AI spending sustainability, another looming question concerns the 74-year-old CEO's succession. Tan has stated he'll remain CEO \"at least\" until 2030, with one former executive predicting he'll \"die at his desk like Charlie Munger.\"</p>\n<p>Still, signs point to preparations for a post-Tan era. Semiconductor Solutions Group president Charlie Kawwas—a PhD engineer who joined via the LSI acquisition—has taken higher-profile roles, including a recent OpenAI podcast alongside Sam Altman. While investors like Laffont joke about praying for Tan's health, Silver Lake's Ken Hao credits his success to \"focusing on first principles rather than conventional wisdom.\"</p>\n<p>The tech world watches to see whether Broadcom's ruthless efficiency can outlast its architect.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","IE0001KFT4U8.USD":"FTGF CLEARBRIDGE GLOBAL GROWTH LEADERS \"A\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD) INC AV","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU2720916845.USD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (USD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0861579265.USD":"联博低波幅策略股票基金A","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU0109392836.USD":"富兰克林科技股A","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU1732800096.USD":"摩根大通环球收益基金A (irc)","IE00BYV24P56.USD":"GUINNESS EMERGING MARKETS EQUITY INCOME \"C\" (USD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BMCWC346.EUR":"GUINNESS EMERGING MARKETS EQUITY INCOME \"C\" (EUR) ACC","LU0444971666.USD":"天利全球科技基金","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","IE00BVYPNQ40.USD":"GUINNESS ASIAN EQUITY INCOME \"C\" (USD) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","IE00BVYPNP33.GBP":"GUINNESS ASIAN EQUITY INCOME \"C\" (GBP) ACC","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","LU0251132253.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU1917777945.USD":"安联专题基金Cl AT Acc","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","BK4512":"苹果概念","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","AVGO":"博通","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","BK4515":"5G概念","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU2298321311.HKD":"BGF CIRCULAR ECONOMY \"A\" (HKDHDG) ACC","LU2764262908.HKD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (HKD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE00BDGV0183.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) INC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","SG9999001424.SGD":"United E-Commerce Fund SGD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","IE00BGHQDM52.EUR":"GUINNESS ASIAN EQUITY INCOME \"C\" (EUR) ACC","LU2237443465.HKD":"abrdn SICAV I - GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY \"A4\" (USD) INC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1301847155.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A4G\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE00BGHQF631.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00B3PB1722.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) INC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","SG9999011175.SGD":"Nikko AM Global Dividend Equity Dis SGD-H","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU2764263039.SGD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (SGDHDG) ACC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU2764263203.CNY":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (CNYHDG) ACC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU2087625088.SGD":"ALLSPRING US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1548497426.USD":"安联环球人工智能AT Acc","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","SG9999002232.USD":"Allianz Global High Payout USD","SG9999002224.SGD":"Allianz Global High Payout SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU0079474960.USD":"联博美国增长基金A","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","BK4141":"半导体产品","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0949170426.SGD":"Blackrock Global Multi-Asset Income A6 SGD-H","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU0784384876.USD":"Blackrock Global Multi-Asset Income A6 USD","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU2211814178.USD":"ALLIANZ CLEAN PLANET \"AT\" (USD) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0048584097.USD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","BK4566":"资本集团","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU0354030511.USD":"ALLSPRING U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) INC (M)","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","BK4543":"AI","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","SG9999015978.USD":"利安颠覆性创新基金A","LU0784385170.HKD":"BGF GLOBAL MULTI ASSET INCOME \"A6\" (HKDHGD) INC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0784385840.USD":"Blackrock Global Multi-Asset Income A2 USD","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU0784383803.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A\" (USD) INC A","LU2237443895.HKD":"abrdn SICAV I - GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","BK4554":"元宇宙及AR概念","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU2092937221.SGD":"Blackrock Circular Economy A2 SGD-H","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0056508442.USD":"贝莱德世界科技基金A2","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","BK4588":"碎股","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","IE00BZ9MQY76.HKD":"FTGF CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (HKD) ACC","BK4598":"佩洛西持仓","BK4551":"寇图资本持仓","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","LU0080751232.USD":"富达环球多元动力基金A","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4605":"半导体精选","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","LU2041044095.USD":"Blackrock Circular Economy A2 USD","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU2279689827.SGD":"JPMorgan Investment Funds - Global Income Sustainable A (mth) SGD-H","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","BK4575":"芯片概念","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","BK4612":"AI芯片","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU2360108059.USD":"BGF CIRCULAR ECONOMY \"A4\" (USD) INC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","BK4581":"高盛持仓","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153181811","content_text":"Under the iron-fisted leadership of CEO Hock Tan, semiconductor giant Broadcom has transformed from an unremarkable chipmaker into a trillion-dollar behemoth, with its stock price soaring nearly sevenfold over the past three years.\nOn December 5, tech media The Information published an in-depth profile detailing Broadcom's journey and its hard-nosed CEO. The article highlights how the 74-year-old executive, known for his ruthlessly pragmatic approach—slashing benefits, tightening cost controls, and relentlessly pursuing profitability—has positioned Broadcom as one of the few credible challengers to Nvidia in the AI chip market through its custom silicon business.\nAfter completing Broadcom's $84 billion acquisition of VMware, Tan famously introduced his management philosophy during a \"coffee chat\" with new employees. When asked whether Broadcom offered benefits like childcare or marriage counseling, he bluntly replied, \"Why would I do that? I'm not your father.\" Within months, about half of VMware's 38,000 employees were laid off, 18 office buildings were reduced to 5, and even coffee machines disappeared.\nThis merciless efficiency has delivered tangible results. Last year, Broadcom's sales surpassed $50 billion—a 50% increase in just two years—with projections exceeding $60 billion this year. Its custom chip division, now accounting for roughly 60% of revenue, counts Google, OpenAI, and Meta among its marquee clients, propelling Broadcom into the elite club of 11 trillion-dollar companies worldwide.\nHowever, risks loom large. The sustainability of AI spending, competition from rivals like Marvell, and customers seeking cheaper alternatives could threaten Broadcom's dominance. Meanwhile, Tan stands to receive approximately $700 million in stock awards if he can grow AI-related revenue to $120 billion by 2030—a target most analysts believe he'll achieve.\nThe M&A Machine's \"Diamonds vs. Trash\" Philosophy\nOver the past 15 years, Tan has acquired at least 11 companies, applying the same ruthless integration playbook each time. As billionaire hedge fund manager Philippe Laffont observed: \"He's the absolute best at identifying interesting targets, buying them, and executing the private equity playbook.\"\nTan himself describes this methodology as separating \"diamonds\" from \"trash.\" Post-VMware acquisition, he slashed the product portfolio from 8,000 items to just four core offerings. He divested VMware's workplace virtualization unit and merged Carbon Black's cybersecurity business into Symantec—after cutting 80% of its staff.\nInternally, Tan implemented a brutal performance evaluation system. Quarterly all-hands meetings feature a slide ranking departments by revenue growth, with a red \"doom line\" marking the bottom third. Any unit lingering below this threshold risks restructuring—yet Broadcom's voluntary attrition rate remains just 2.9%, slightly above Nvidia's 2.7%, which former employees attribute to generous compensation including valuable RSUs.\nThe company rarely hires interns or fresh graduates, preferring seasoned engineers who can outperform multiple junior staffers. Unlike tech peers with hundreds of VPs, Broadcom operates with fewer than 30 senior executives. Even office supplies are scarce at its Palo Alto HQ—employees reportedly buy their own rubber bands and markers.\nCustom Chips: Challenging Nvidia's Throne\nThe ChatGPT revolution breathed new life into Broadcom's once-stagnant chip business. Its ASIC chips—designed for specific tasks rather than general computing—offer greater efficiency and lower costs than Nvidia's GPUs, making Broadcom a rare credible challenger in the AI accelerator market.\nGoogle became Broadcom's flagship ASIC client in 2016. Typically, customers provide chip blueprints while Broadcom handles physical design and manufacturing with partners like TSMC. Engagement levels vary—Google handles more high-level design, while Broadcom assists other clients throughout the process.\nRecent deals with OpenAI and Meta have turbocharged growth. Last February, Tan joined Meta's board, and Microsoft is reportedly in talks to shift future chip designs from Marvell to Broadcom. However, some clients balk at Broadcom's premium pricing—Amazon previously switched to Marvell after contentious negotiations, while Google added MediaTek as a secondary supplier.\nTan predicts AI could generate $60-$90 billion in new revenue by 2027. JPMorgan estimates the OpenAI partnership alone might yield $300 billion long-term. Meanwhile, Anthropic plans to deploy 1 million TPUs (chips co-designed by Broadcom and Google), and Meta is negotiating a multi-billion-dollar TPU investment for its data centers.\nFrom Malaysia to Silicon Valley: The Making of a Hard-Charging CEO\nLittle is known about Tan's personal life. Raised in modest circumstances during Malaysia's communist insurgency, he initially aspired to medicine before an MIT scholarship altered his trajectory. After earning engineering degrees and an MBA, he held finance roles at GM and PepsiCo before spending a decade in Asia.\nHis turnaround of Integrated Circuit Systems—sold for $1.7 billion in 2005—caught Silver Lake and KKR's attention. They recruited him to lead Avago (a HP spinoff), where his austerity was legendary—one executive recalled a \"retreat\" at an airport hotel without food or water.\nIn 2016, Tan pulled off his masterstroke: acquiring the better-known Broadcom for $37 billion. A $120 billion hostile bid for Qualcomm failed when the Trump administration blocked it over national security concerns—prompting Broadcom to reincorporate in the U.S.\nThe Succession Question\nAs doubts persist about AI spending sustainability, another looming question concerns the 74-year-old CEO's succession. Tan has stated he'll remain CEO \"at least\" until 2030, with one former executive predicting he'll \"die at his desk like Charlie Munger.\"\nStill, signs point to preparations for a post-Tan era. Semiconductor Solutions Group president Charlie Kawwas—a PhD engineer who joined via the LSI acquisition—has taken higher-profile roles, including a recent OpenAI podcast alongside Sam Altman. While investors like Laffont joke about praying for Tan's health, Silver Lake's Ken Hao credits his success to \"focusing on first principles rather than conventional wisdom.\"\nThe tech world watches to see whether Broadcom's ruthless efficiency can outlast its architect.","news_type":1,"symbols_score_info":{"AVGO":1}},"isVote":1,"tweetType":1,"viewCount":43,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":508534437425224,"gmtCreate":1765175719559,"gmtModify":1765175814013,"author":{"id":"4130047330533622","authorId":"4130047330533622","name":"sebgoh","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4130047330533622","authorIdStr":"4130047330533622"},"themes":[],"title":"","htmlText":"Employees buying their own stationery? Not impressed.","listText":"Employees buying their own stationery? Not impressed.","text":"Employees buying their own stationery? Not impressed.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/508534437425224","repostId":"1153181811","repostType":2,"isVote":1,"tweetType":1,"viewCount":43,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
