“So in terms of directional trend, other than the indication I’m giving you – than the guidance I’m giving you in Q4 ‘24, directionally, we continue to see accelerated bookings and by extension, accelerated growth.”

In context

“the two-part question is, what happened in the classic Broadcom side of things to create that volatility? And are we now kind of reaching that $4 billion base in the fourth quarter that you talked about with VMware? And kind of, if so, what are the puts and takes in the growth rate as we look into the future on that business? Hock Tan: Well, as far as we indicated, the VMware business continues to book very well, as we convert our customers very much in two ways, one, from perpetual to a subscription license, but also those subscription license for the full stack of VCF. And that has been very successful, as I indicated, given the high ratio of VCF subscribers, new subscribers that we have achieved. And we see this trend continuing in Q4 very much so and also very likely through into '25. So in terms of directional trend, other than the indication I’m giving you – than the guidance I’m giving you in Q4 ‘24, directionally, we continue to see accelerated bookings and by extension, accelerated growth. Operator: Thank you. One moment for our next question. And that will come from the line of Stacy Rasgon with Bernstein Research. Your line is open. Stacy Rasgon: Hi, guys. Thanks for taking my questions. I have two short ones, one on each segments. On semis, the non-AI networking is like more than 50% below where it was running before it rolled off. And clearly, the other businesses are also way below their peaks. Is there any reason why those shouldn't -- is this just cyclical or is something else going on? Is there any reason why those shouldn't get back to prior levels once recovery happens? And then on the software side. So the non-VMware pieces looks like it's back to that $2 billion-ish a quarter level or so that it was at before. Is that just Brocade falling off? And is this sort o”