Broadcom dangles 5G promise in bid to buy Qualcomm

From CNET: 5G appears to be the solution to everyone's problems. For Broadcom, it's the potential key to completing its hostile takeover of fellow chip maker Qualcomm.

Broadcom, which makes chips for everything from set-top boxes to data centers, on Wednesday vowed to make the US a global leader in 5G, a next-generation cellular technology that promises to boost wireless speeds, coverage and the ability to handle connected devices. Qualcomm, which makes chips for smartphones and other mobile devices, has been at the forefront of 5G investment.

"Broadcom will not only maintain the R&D resources Qualcomm devotes to 5G and innovation in future wireless standards – we will also focus R&D spend to those critical technologies that are essential to the US," the company said in a statement.

The company also pledged to create a $1.5 billion fund to train and educate engineers in the US.

The response comes after a US government panel, the Committee on Foreign Investment in the US (Cfius) expressed concern over Broadcom's acquisition of Qualcomm and said such a deal could pose a national security risks. Typically when Cfius weighs in with concerns, that signals the end of a potential deal.

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