Market Chatter: Broadcom Cancels Plan to Build $1 Billion Microchip Factory in Spain

MT Newswires Live07-15

Broadcom (AVGO) canceled a plan to build a microchip factory in Spain after negotiations with the government collapsed, Spanish news agency Europa Press reported Sunday, citing sources familiar with the situation.

The company announced plans to build the large-scale semiconductor factory in 2023, which would have involved a potential investment of about $1 billion, the report said.

Broadcom did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 275.57, Change: +1.19, Percent Change: +0.43

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