President Donald Trump ordered the immediate and permanent end of takeover talks between the rival chipmakers Monday, citing national security concerns.
Qualcomm had resisted a deal for months, rejecting several record-breaking price tags.
Broadcom remained committed to a merger, despite growing concerns from regulators. It promised U.S. investment in 5G if the deal went through and advanced a plan to move its headquarters to the U.S. from Singapore.
Shares of Broadcom opened roughly 1.5 percent up Tuesday.