Broadcom Links With $3.5B Intel Jobs Effort

Irvine-based Broadcom is backing a $3.5 billion effort by microprocessor giant Intel, to invest in U.S. companies and spur new hiring at local companies. According to Intel, it has created a new group--the Invest in America Alliance which will look to invest $3.5 billion in startups in the next two years, and also help increase the number of jobs for new graduates. Broadcom is one of 17 companies who collectively are looking to increase their hiring goals to create 10,500 new jobs for college graduates. Intel said it has created its own, $200M Intel Capital Invest In America Technology Fund as par of the investment effort; Intel Capital has historically been a major investor in a wide range of Southern California technology firms.