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Broadcom Inc. Announces First Quarter Fiscal Year 2025 Financial Results and Quarterly Dividend

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1 year ago

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Revenue of $14,916 million for the first quarter, up 25 percent from the prior year periodGAAP net income of $5,503 million for the first quarter; Non-GAAP net income of $7,823 million for the first quarterAdjusted EBITDA of $10,083 million for the first quarter, or 68 percent of revenueGAAP diluted EPS of $1.14 for the first quarter; Non-GAAP diluted EPS of $1.60 for the first quarterCash from operations of $6,113 million for the first quarter, less capital expenditures of $100 million, resulted in $6,013 million of free cash flow, or 40 percent of revenueQuarterly common stock dividend of $0.59 per shareSecond quarter fiscal year 2025 revenue guidance of approximately $14.9 billion, an increase of 19 percent from the prior year periodSecond quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1)

PALO ALTO, Calif., March 6, 2025 /PRNewswire/ — Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its first quarter of fiscal year 2025, ended February 2, 2025, provided guidance for its second quarter of fiscal year 2025 and announced its quarterly dividend.

“Broadcom’s record first quarter revenue and adjusted EBITDA were driven by both AI semiconductor solutions and infrastructure software. Q1 AI revenue grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion,” said Hock Tan, President and CEO of Broadcom Inc. “We expect continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers.”

“Consolidated revenue grew 25% year-over-year to a record $14.9 billion. Adjusted EBITDA increased 41% year-over-year to a record $10.1 billion,” said Kirsten Spears, CFO of Broadcom Inc. “Free cash flow was $6.0 billion, up 28% year-over-year.”

(1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort.

First Quarter Fiscal Year 2025 Financial Highlights

GAAP

Non-GAAP

(Dollars in millions, except per share data)

Q1 25

Q1 24

Change

Q1 25

Q1 24

Change

Net revenue

$

14,916

$

11,961

+25

%

$

14,916

$

11,961

+25

%

Net income

$

5,503

$

1,325

+$

4,178

$

7,823

$

5,254

+$

2,569

Earnings per common share – diluted

$

1.14

$

0.28

+$

0.86

$

1.60

$

1.10

+$

0.50

(Dollars in millions)

Q1 25

Q1 24

Change

Cash flow from operations

$

6,113

$

4,815

+$

1,298

Adjusted EBITDA

$

10,083

$

7,156

+$

2,927

Free cash flow

$

6,013

$

4,693

+$

1,320

Net revenue by segment

(Dollars in millions)

Q1 25

Q1 24

Change

Semiconductor solutions

$

8,212

55

%

$

7,390

62

%

+11

%

Infrastructure software

6,704

45

4,571

38

+47

%

Total net revenue

$

14,916

100

%

$

11,961

100

%

 

The Company’s cash and cash equivalents at the end of the fiscal quarter were $9,307 million, compared to $9,348 million at the end of the prior fiscal quarter.

During the first fiscal quarter, the Company generated $6,113 million in cash from operations and spent $100 million on capital expenditures. The Company paid $2,036 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 8.7 million shares).

On December 31, 2024, the Company paid a cash dividend of $0.59 per share, totaling $2,774 million.

The differences between the Company’s GAAP and non-GAAP results are described generally under “Non-GAAP Financial Measures” below and presented in detail in the financial reconciliation tables attached to this release.

Second Quarter Fiscal Year 2025 Business Outlook

Based on current business trends and conditions, the outlook for the second quarter of fiscal year 2025, ending May 4, 2025, is expected to be as follows: 

Second quarter revenue guidance of approximately $14.9 billion; andSecond quarter Adjusted EBITDA guidance of approximately 66 percent of projected revenue.

The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.

Quarterly Dividends

The Company’s Board of Directors has approved a quarterly cash dividend of $0.59 per share. The dividend is payable on March 31, 2025, to stockholders of record at the close of business (5:00 p.m. Eastern Time) on March 20, 2025.

Financial Results Conference Call

Broadcom Inc. will host a conference call to review its financial results for the first quarter of fiscal year 2025 and to discuss the business outlook today at 2:00 p.m. Pacific Time.

To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.

Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom’s website at https://investors.broadcom.com/.

Non-GAAP Financial Measures

The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company’s on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company’s on-going operations and enable more meaningful period to period comparisons. 

In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company’s underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company’s operations, and benchmarking performance externally against the Company’s competitors. The exclusion of these and other similar items from Broadcom’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual.

Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom’s free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies.

About Broadcom

Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com. 

Cautionary Note Regarding Forward-Looking Statements 

This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, and other statements identified by words such as “will,” “expect,” “believe,” “anticipate,” “estimate,” “should,” “intend,” “plan,” “potential,” “predict,” “project,” “aim,” and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom’s management, current information available to Broadcom’s management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements.

Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and uncertainty; government regulations, trade restrictions and trade tensions; global political and economic conditions relating to our international operations; our acquisition of VMware, Inc., including our ability to realize the expected benefits; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and other channel partners of our products; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; cyclicality in the semiconductor industry or in our target markets; our ability to make successful investments in research and development; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; prolonged disruptions of our or our contract manufacturers’ manufacturing facilities, warehouses or other significant operations; our ability to accurately estimate customers’ demand and adjust our manufacturing and supply chain accordingly; our ability to improve our manufacturing capacity and quality; involvement in legal proceedings; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and customer acceptance of our products, services and business strategy; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our compliance with privacy and data security laws; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature.

Our filings with the SEC, which are available without charge at the SEC’s website at https://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Ji Yoo
Broadcom Inc.
Investor Relations
650-427-6000
investor.relations@broadcom.com 

(AVGO-Q)

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS – UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)

Fiscal Quarter Ended

February 2,

November 3,

February 4,

2025

2024

2024

Net revenue

$

14,916

$

14,054

$

11,961

Cost of revenue:

Cost of revenue

3,273

3,399

3,114

Amortization of acquisition-related intangible assets

1,484

1,602

1,380

Restructuring charges

14

51

92

Total cost of revenue

4,771

5,052

4,586

Gross margin

10,145

9,002

7,375

Research and development

2,253

2,234

2,308

Selling, general and administrative

949

1,010

1,572

Amortization of acquisition-related intangible assets

511

813

792

Restructuring and other charges

172

318

620

Total operating expenses

3,885

4,375

5,292

Operating income

6,260

4,627

2,083

Interest expense

(873)

(916)

(926)

Other income, net

103

52

185

Income from continuing operations before income taxes

5,490

3,763

1,342

Provision for (benefit from) income taxes

(13)

(442)

68

Income from continuing operations

5,503

4,205

1,274

Income from discontinued operations, net of income taxes

–

119

51

Net income

$

5,503

$

4,324

$

1,325

Basic income per share:

Income per share from continuing operations

$

1.17

$

0.89

$

0.28

Income per share from discontinued operations

–

0.03

0.01

Net income per share

$

1.17

$

0.92

$

0.29

Diluted income per share:

Income per share from continuing operations

$

1.14

$

0.87

$

0.27

Income per share from discontinued operations

–

0.03

0.01

Net income per share

$

1.14

$

0.90

$

0.28

Weighted-average shares used in per share calculations:

Basic

4,695

4,679

4,517

Diluted

4,836

4,828

4,666

Stock-based compensation expense included in continuing operations:

Cost of revenue

$

153

$

159

$

161

Research and development

822

839

863

Selling, general and administrative

305

316

548

Total stock-based compensation expense

$

1,280

$

1,314

$

1,572

 

BROADCOM INC.

FINANCIAL RECONCILIATION: GAAP TO NON-GAAP – UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

February 2,

November 3,

February 4,

2025

2024

2024

Gross margin on GAAP basis

$

10,145

$

9,002

$

7,375

Amortization of acquisition-related intangible assets

1,484

1,602

1,380

Stock-based compensation expense

153

159

161

Restructuring charges

14

51

92

Acquisition-related costs

–

–

6

Gross margin on non-GAAP basis

$

11,796

$

10,814

$

9,014

Research and development on GAAP basis

$

2,253

$

2,234

$

2,308

Stock-based compensation expense

822

839

863

Acquisition-related costs

–

–

1

Research and development on non-GAAP basis

$

1,431

$

1,395

$

1,444

Selling, general and administrative expense on GAAP basis

$

949

$

1,010

$

1,572

Stock-based compensation expense

305

316

548

Acquisition-related costs

107

86

285

Selling, general and administrative expense on non-GAAP basis

$

537

$

608

$

739

Total operating expenses on GAAP basis

$

3,885

$

4,375

$

5,292

Amortization of acquisition-related intangible assets

511

813

792

Stock-based compensation expense

1,127

1,155

1,411

Restructuring and other charges

172

318

620

Acquisition-related costs

107

86

286

Total operating expenses on non-GAAP basis

$

1,968

$

2,003

$

2,183

Operating income on GAAP basis

$

6,260

$

4,627

$

2,083

Amortization of acquisition-related intangible assets

1,995

2,415

2,172

Stock-based compensation expense

1,280

1,314

1,572

Restructuring and other charges

186

369

712

Acquisition-related costs

107

86

292

Operating income on non-GAAP basis

$

9,828

$

8,811

$

6,831

Interest expense on GAAP basis

$

(873)

$

(916)

$

(926)

Loss on debt extinguishment

65

52

–

Interest expense on non-GAAP basis

$

(808)

$

(864)

$

(926)

Other income, net on GAAP basis

$

103

$

52

$

185

(Gains) losses on investments

4

30

(33)

Other

(31)

–

–

Other income, net on non-GAAP basis

$

76

$

82

$

152

Provision for (benefit from) income taxes on GAAP basis

$

(13)

$

(442)

$

68

Non-GAAP tax reconciling adjustments

1,286

1,506

735

Provision for income taxes on non-GAAP basis

$

1,273

$

1,064

$

803

Net income on GAAP basis

$

5,503

$

4,324

$

1,325

Amortization of acquisition-related intangible assets

1,995

2,415

2,172

Stock-based compensation expense

1,280

1,314

1,572

Restructuring and other charges

186

369

712

Acquisition-related costs

107

86

292

Loss on debt extinguishment

65

52

–

(Gains) losses on investments

4

30

(33)

Other

(31)

–

–

Non-GAAP tax reconciling adjustments

(1,286)

(1,506)

(735)

Income from discontinued operations, net of income taxes

–

(119)

(51)

Net income on non-GAAP basis

$

7,823

$

6,965

$

5,254

Net income on GAAP basis

$

5,503

$

4,324

$

1,325

Non-GAAP Adjustments:

Amortization of acquisition-related intangible assets

1,995

2,415

2,172

Stock-based compensation expense

1,280

1,314

1,572

Restructuring and other charges

186

369

712

Acquisition-related costs

107

86

292

Loss on debt extinguishment

65

52

–

(Gains) losses on investments

4

30

(33)

Other

(31)

–

–

Non-GAAP tax reconciling adjustments

(1,286)

(1,506)

(735)

Income from discontinued operations, net of income taxes

–

(119)

(51)

Other Adjustments:

Interest expense

808

864

926

Provision for income taxes on non-GAAP basis

1,273

1,064

803

Depreciation

142

156

139

Amortization of purchased intangibles and right-of-use assets

37

40

34

Adjusted EBITDA

$

10,083

$

9,089

$

7,156

Weighted-average shares used in per share calculations – diluted on GAAP basis

4,836

4,828

4,666

Non-GAAP adjustment (1)

59

77

113

Weighted-average shares used in per share calculations – diluted on non-GAAP basis

4,895

4,905

4,779

Net cash provided by operating activities

$

6,113

$

5,604

$

4,815

Purchases of property, plant and equipment

(100)

(122)

(122)

Free cash flow

$

6,013

$

5,482

$

4,693

 Fiscal
Quarter

Ending 

May 4,

Expected average diluted share count: 

2025

Weighted-average shares used in per share calculation – diluted on GAAP basis

4,840

Non-GAAP adjustment (1)

107

Weighted-average shares used in per share calculation – diluted on non-GAAP basis

4,947

(1) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation
expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise be assumed to be
used to repurchase shares under the GAAP treasury stock method.

 

BROADCOM INC.

CONDENSED CONSOLIDATED BALANCE SHEETS – UNAUDITED

(IN MILLIONS)

February 2,

November 3,

2025

2024

ASSETS

Current assets:

Cash and cash equivalents

$

9,307

$

9,348

Trade accounts receivable, net

4,955

4,416

Inventory

1,908

1,760

Other current assets

4,820

4,071

Total current assets

20,990

19,595

Long-term assets:

Property, plant and equipment, net

2,465

2,521

Goodwill

97,871

97,873

Intangible assets, net

38,583

40,583

Other long-term assets

5,449

5,073

Total assets

$

165,358

$

165,645

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

$

1,905

$

1,662

Employee compensation and benefits

922

1,971

Short-term debt

5,653

1,271

Other current liabilities

12,430

11,793

Total current liabilities

20,910

16,697

Long-term liabilities:

Long-term debt

60,926

66,295

Other long-term liabilities

13,733

14,975

Total liabilities

95,569

97,967

Stockholders’ equity:

Preferred stock

–

–

Common stock

5

5

Additional paid-in capital

66,848

67,466

Retained earnings

2,729

–

Accumulated other comprehensive income

207

207

Total stockholders’ equity

69,789

67,678

  Total liabilities and equity

$

165,358

$

165,645

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

February 2,

November 3,

February 4,

2025

2024

2024

Cash flows from operating activities:

Net income

$

5,503

$

4,324

$

1,325

Adjustments to reconcile net income to net cash provided by operating activities:

Amortization of intangible and right-of-use assets

2,032

2,455

2,206

Depreciation

142

156

139

Stock-based compensation

1,280

1,314

1,582

Deferred taxes and other non-cash taxes

(696)

(868)

(294)

Loss on debt extinguishment

65

52

–

Non-cash interest expense

97

91

102

Other

41

138

38

Changes in assets and liabilities, net of acquisitions and disposals:

  Trade accounts receivable, net

(539)

249

1,756

  Inventory

(148)

134

(14)

  Accounts payable

241

(85)

(74)

  Employee compensation and benefits

(908)

196

(660)

  Other current assets and current liabilities

26

(1,410)

(2,182)

  Other long-term assets and long-term liabilities

(1,023)

(1,142)

891

Net cash provided by operating activities

6,113

5,604

4,815

Cash flows from investing activities:

Acquisition of business, net of cash acquired

–

–

(25,416)

Purchases of property, plant and equipment

(100)

(122)

(122)

Purchases of investments

(105)

(30)

(13)

Sales of investments

18

20

89

Other

13

–

(15)

Net cash used in investing activities

(174)

(132)

(25,477)

Cash flows from financing activities:

Proceeds from long-term borrowings

2,986

4,969

30,010

Payments on debt obligations

(8,090)

(7,472)

(934)

Proceeds from commercial paper, net

3,980

–

–

Payments of dividends

(2,774)

(2,484)

(2,435)

Repurchases of common stock – repurchase program

–

–

(7,176)

Shares repurchased for tax withholdings on vesting of equity awards

(2,036)

(1,204)

(1,114)

Issuance of common stock

–

126

–

Other

(46)

(11)

(14)

Net cash provided by (used in) financing activities

(5,980)

(6,076)

18,337

Net change in cash and cash equivalents

(41)

(604)

(2,325)

Cash and cash equivalents at beginning of period

9,348

9,952

14,189

Cash and cash equivalents at end of period

$

9,307

$

9,348

$

11,864

Supplemental disclosure of cash flow information:

Cash paid for interest

$

671

$

738

$

750

Cash paid for income taxes

$

404

$

832

$

904

 

View original content:https://www.prnewswire.com/news-releases/broadcom-inc-announces-first-quarter-fiscal-year-2025-financial-results-and-quarterly-dividend-302395106.html

SOURCE Broadcom Inc.

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STARTRADER Launches SKHY as SK Hynix Makes Its US Market Debut, Giving Clients Timely Access to a Key AI Memory Name

Published

47 minutes ago

on

July 23, 2026

By

SKHY gives clients direct exposure to a key supplier of high-bandwidth memory at the heart of the AI acceleration market.

DUBAI, UAE, July 23, 2026 /PRNewswire/ — STARTRADER today announced the launch of SK Hynix Inc. (SKHY) as a US Stock CFD on its trading platform, available from July 22, 2026. Moving swiftly following SK Hynix’s recent US listing, which raised approximately $26.5 billion, STARTRADER is ensuring clients can engage with this name at the earliest opportunity.

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Peter Karsten, Chief Executive Officer, STARTRADER

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About STARTRADER
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View original content to download multimedia:https://www.prnewswire.com/news-releases/startrader-launches-skhy-as-sk-hynix-makes-its-us-market-debut-giving-clients-timely-access-to-a-key-ai-memory-name-302833143.html

SOURCE STARTRADER

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FORD AND GEELY AUTO JOIN FORCES IN EUROPE TO PRODUCE NEXT-GENERATION MULTI-ENERGY VEHICLES IN SPAIN

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July 23, 2026

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The global automakers plan to form a manufacturing joint venture at Ford’s Valencia, Spain, plant, combining scale and factory utilization, to build Ford and Geely vehiclesThe partnership, built on a foundation of trust and shared business principles, secures the future of the Valencia plant, provides long-term stability and creates the potential for future high-tech manufacturing job growthThe joint venture addresses the new realities of the European market — intense global competition, relentless cost pressure and tightening regulation — resetting Valencia to build at the industry’s emerging cost benchmarkThe Valencia plant will produce a new generation of low- and zero-emission vehicles for European markets, offering customers an outstanding technology experienceThe joint venture is expected to produce an all-new multi-energy crossover for Ford, in addition to a new member of the Bronco family, plus two electric Geely SUVs, with production starting in 2028. Kuga production continues uninterruptedThe collaboration accelerates Geely Auto’s European expansion, and supports Ford’s product offensive to bring five new passenger vehicles to European showrooms by 2029

VALENCIA, Spain, July 23, 2026 /PRNewswire/ — Ford Motor Company and Geely Automobile Holdings (hereafter “Geely Auto”) today announced an agreement to form a Europe-focused joint venture (JV) at Ford’s Valencia, Spain, manufacturing hub.

The new JV will manufacture Ford and Geely multi-energy passenger vehicles for the European market, driving greater choice and value for European drivers.

Europe is home to one of the fiercest competitive battles in the global automotive industry today. Tightening regulation, high operating costs and a new generation of global competitors have reset the industry’s benchmark for manufacturing cost, vehicle technology and software experience.

By pooling production volume, Ford and Geely will maximize the capacity of the Valencia plant, lower the cost of every vehicle built there, and compete at this emerging cost standard while delivering world-class multi-energy vehicles and strengthening the local Valencia economy in the process.

Pending regulatory approvals, the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028. The Valencia plant will continue to produce the Ford Kuga in the meantime.

“This JV with Ford in Europe reflects our commitment to open, collaborative product development as part of our growth strategy, deepening our local presence and commitment to customers in Europe”, said Alex Nan, Vice President of Geely Auto Group. “We are dedicated to delivering vehicles that European customers will choose on merit: on industry leading features, on high-quality and on actively contributing to Europe’s green future. Put simply: we are building cars in Europe, for Europe, alongside a trusted partner.”

Ford’s partnership with Geely is built on a foundation of trust and respect stretching back to 2010 when Ford sold Volvo Cars to Geely and watched it protect and revitalize the brand. Both companies share a commitment to quality, cost-efficient sourcing and continuous improvement, as well as a belief that customers should be able to choose their own path through the energy transition.

Transforming Valencia into a Powerhouse for Low-CO2 Mobility

The JV will transform Ford’s Valencia facility – already one of Europe’s most productive and advanced plants, with a potential annual capacity of about 500,000 vehicles – into a shared, high-tech manufacturing hub built to compete at the industry’s new global cost standard. The plant has been at the leading edge of the European market since it opened in 1976, when it built the original Ford Fiesta, Ford’s first global front-wheel-drive car, and a major success. Ford was the first non-Spanish automaker to build in Valencia, the start of a partnership with Spain and its people that remains as strong today.

Under the proposed ownership structure, Ford will own 66% of the new entity and Geely Auto 34%.

An Exciting Vehicle Lineup

“For nearly 50 years, Valencia has built some of the most-loved cars in our history, and now this team will help build our future”, said Jim Baumbick, President, Ford of Europe. ” That’s why we’re building a flexible, cost-effective industrial system with a capable partner in Geely Auto. Together we can fully utilize a best-in-class plant with a great workforce and match the industry’s new cost benchmark. This is all part of Ford’s vision to give European drivers rally-bred handling, true off-road capability and multi-energy technology, with a distinct Blue Oval DNA.”

The JV will combine the engineering, manufacturing and development know-how of two of the world’s leading automakers to build both Ford and Geely low- and zero-emission passenger vehicles. The cars will be tailored for European drivers and will offer them choice in powertrain technology, as well as outstanding digital experiences.

Ford Models:

The Popular Ford Kuga: Production of the Ford Kuga — one of Europe’s favorite plug-in hybrids — will continue uninterrupted in Valencia.A Rugged New Bronco: Valencia will also produce a new member of the global Bronco family – a tough, compact, adventure-ready SUV built for European roads, with production starting in 2028.An All-New Crossover: A multi-energy family crossover, designed by Ford and jointly developed with Geely will arrive in 2028. Engineered with Ford’s signature capabilities and driving dynamics, it is part of an aggressive product offensive that will bring five new multi-energy vehicles to Europe by 2029.

Geely Models:

Sleek Electric SUVs: Geely Auto plans to produce two electric SUVs at the Valencia facility in full support of their European focus and growth strategy. The first Geely-branded models to be manufactured under this joint venture are scheduled to roll off the production line in 2028.

The venture supports Geely Auto’s international expansion, following overseas sales of 474,228 vehicles in the first half of the year, while advancing Ford’s strategy of using partnerships to compete with speed, efficiency and scale in Europe.

“This partnership shows how automakers are strengthening Europe’s industrial base, but we can’t do it alone,” said Jim Baumbick. “What we’ve achieved in Valencia, with the ongoing support of Spain’s national and regional governments, is a masterclass in public-private partnership that sets the benchmark for the rest of Europe.”

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services, including BlueCruise (ADAS) and security. The company offers freedom of choice through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles (“EVs”) along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, the company provides financial services through Ford Motor Credit Company. Ford employs about 168,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.

About Geely Auto Group

Geely Auto Group is a leading global automotive company headquartered in Hangzhou, China. Part of Zhejiang Geely Holding Group, Geely Auto Group develops and manufactures passenger vehicles under the Geely, Lynk & Co, and Zeekr brands.

Geely Auto achieved cumulative sales of 3,024,567 units in 2025, exceeding the full-year sales target with a year-on-year growth of 39%. New energy vehicle (NEV) sales reached 1,687,767 units, a year-on-year increase of 90%.

With a strong focus on technology innovation, electrification, and sustainable mobility, Geely Auto Group operates world-class R&D centers and manufacturing facilities across China, Europe, and key international markets. The Group is committed to delivering safe, high-quality, and intelligent vehicles enabled by advanced technologies such as hybrid powertrains, full-electric architectures, smart connectivity, and autonomous driving systems.

As a global company, Geely Auto Group continues to expand its international presence through strategic partnerships, localized operations, and industry-leading platforms. Geely strives to create mobility solutions that are greener, smarter, and more accessible, driving forward the future of sustainable transportation.

Ford news releases, related materials, photos and video, visit From the Road, www.fordmedia.eu or www.media.ford.com.
Follow www.linkedin.com/company/ford-in-europe, www.youtube.com/FordNewsEurope, www.instagram.com/FordNewsEurope,
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SOURCE Ford

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K25.ai Secures Series A Investment with Strategic Support from Amber Group, Valuation Doubles to US$200 Million

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July 23, 2026

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Series A follows K25.ai’s oversubscribed Pre-A round and accelerates its vision to make prediction markets native to live digital content

SINGAPORE, July 23, 2026 /PRNewswire/ — K25.ai, the AI-native prediction market transforming livestreams into real-time interactive markets, today announced the closing of its Series A investment round, with strategic support from Amber Group, at a post-money valuation of US$200 million, doubling the company’s valuation in under 60 days.

The Series A marks another major milestone for K25.ai as it builds a new category at the convergence of artificial intelligence, live digital content, creator economies and prediction markets.

K25.ai enables audiences to predict what happens next across live sports, esports, entertainment and creator content. Its proprietary AI infrastructure supports real-time market generation, content monitoring and outcome resolution, powering a seamless watch-to-predict experience.

The investment and strategic collaboration will accelerate K25.ai’s product development, global expansion, institutional liquidity infrastructure and creator ecosystem.

“We’re building the category where AI meets live content and real-money prediction. Amber Group’s backing — and the doubling of our valuation — confirms the market is ready. We’re moving fast,” said Andy Cheung, Founder and CEO of K25.ai.

Amber Group will support K25.ai across market infrastructure, liquidity strategy, ecosystem development and related digital asset expertise.

“K25.ai is creating a differentiated platform at the intersection of AI, real-time content and prediction markets,” said Haoyu, Portfolio Director of amber.ac. “We are excited to support its experienced team as it scales a new generation of interactive financial and entertainment experiences.”

The Series A follows K25.ai’s recently closed Pre-A round led by Nasdaq-listed NewGenIVF Group Limited (Nasdaq: NIVF). The Series A support from Amber Group doubles K25.ai’s valuation from its Pre-A round and adds a second institutional backer alongside NewGenIVF Group, extending K25.ai’s strategic support across both public markets and digital assets.

About K25.ai

K25.ai is an AI-native livestreaming prediction market transforming passive audiences into active participants. By combining live content, creator-led markets and AI-powered resolution, K25.ai is building the infrastructure for the next generation of interactive information markets.

About Amber Group

Amber Group is a global leader in digital assets, headquartered in Singapore. Amber Group is the parent company of Amber International Holding Limited (Nasdaq: AMBR), which operates as a separate publicly traded company. Since 2017, Amber Group has developed full-stack solutions that bridge traditional finance and digital assets, offering end-to-end services including wealth management, asset management, market making, advisory, investment, and infrastructure. These products and services are offered across various entities within Amber Group. Certain products, services, technologies, and initiatives described in this press release are developed or carried out by subsidiaries or affiliates of Amber Group other than Amber International Holding Limited, and are not necessarily conducted by or attributable to the listed entity.

Backed by top investors and equipped with deep expertise in both digital and traditional markets, Amber Group leverages AI, blockchain, and quantitative research to deliver personalized, cutting-edge solutions. The company focuses on servicing a diverse global clientele—comprising HNW individuals, institutions, funds, exchanges, and projects—to optimize returns safely across all market conditions.

Learn more at www.ambergroup.io.

Media and Investor Contacts

K25.ai Media Contact
media@k25.ai 

K25.ai Investor Relations Contact
ir@k25.ai 

K25.ai Partnership Contact
partnership@k25.ai 

View original content:https://www.prnewswire.com/news-releases/k25ai-secures-series-a-investment-with-strategic-support-from-amber-group-valuation-doubles-to-us200-million-302833151.html

SOURCE K25.ai

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