Edward Snyder: Thanks a lot. First, a housekeeping one, if I could, Hock. You mentioned the second customer as customer, but you also mentioned that it takes years of work iteratively. I mean you can — anybody has looked at the TPU history, I guess, understands that. So — and you’ve said before that it takes time to ramp it up. But maybe you could give us a little bit of color of phenomenal growth in your custom silicon products. Is much or a material part of that coming from your second customer and taking into account the low revenue number, is the growth rate, generally speaking, fairly comparable? And then I had a question about VMware.
Hock Tan: You better go on to VMware customers. And because on the first — I don’t tell about my customer individually, sorry.
Edward Snyder: Okay. Okay, never mind. That’s a waste of time. So closing VMware held kind of a significant shift in your software strategy from focus on the largest 1,000 or so customers to hundreds of thousands now. Why should we expect once you get through, I don’t say, the low-hanging fruit of selling into the, like you mentioned, the first 1,000 customers with the VCF product that your OpEx is a share of sales, firstly, in sales and marketing would start to increase because that’s the big leverage Broadcom has had over almost all your acquisitions in software, and that seems to be changing now?
Hock Tan: We have a shift here. And it’s interesting. You’re right, now we’ve got. We are spending more on go-to-market and support because we have a lot of customers with VMware. They are 300,000, but we stratify. So we have the strategic guys. We sell, upsell VC private cloud very good. But the long tail of what we call smaller commercial customers, we continue to support and sell improved versions of just vSphere compute virtualization to improve productivity on their service. We don’t attempt to say, go build up your whole VCM. They don’t have the skills, don’t have the scale to do it. But only it adds up you’re right, costs of my spend, OpEx spend, be it support services, go-to-market will increase. But the difference between that and, say, CA, under acquisition we did is we’re growing this business very fast. And you don’t have to increase your spend growing this business. So we have operating leverage through revenue growth over the next three years.
Edward Snyder: Great. If I could squeeze one more in. You’d mentioned several times actually in the last quarter that there were two divisions you’re going to divest including Carbon Black, and that’s changed. What has changed? Is the market outlook kind of softened and you just wait and see? Or did you change your strategy and how you’re going to integrate? I’m just curious why last quarter, you said you probably get rid of it in months and now you’re keeping it.
Hock Tan: Well, we find now that we could generate more value to you, the shareholders. I assume you are — I’m just kidding, but we would generate more value to our shareholders by taking Carbon Black, which is not that big and integrating it, Symantec, that by doing it, we would generate much better value to our shareholders than taking a one-shot divestiture on this asset, not particularly large to begin with.
Edward Snyder: Great. Thank you.
Operator: Ladies and gentlemen, just in the interest of time, I would now like to turn the call back over to Ji Yoo for closing remarks.
Ji Yoo: Thank you, operator. In closing, we would like to highlight our Broadcom enabling AI an Infrastructure Investor Meeting on Wednesday, March 20, 2024, at 9:00 a.m. Pacific 12:00 p.m. Eastern Time. Charlie Kawwas, President of Broadcom’s Semiconductor Solutions Group and several General Managers will present on Broadcom’s merchant silicon portfolio. The live webcast and replay of the investor meeting will be available at investors.broadcom.com. Broadcom currently plans to report its earnings for the second quarter of fiscal ’24, after close of market on Wednesday, June 12, 2024. A public webcast that Broadcom’s earnings conference call will follow at 2:00 p.m. Pacific Time. That will conclude our earnings call today. Thank you all for joining. Operator, you may end the call.
Operator: Thank you. Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.
