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President Donald Trump hugs Broadcom CEO Hock Tan during an event to announce the company is moving its global headquarters to the United States Photo: Evan Vucci / AP

Singapore-based chip manufacturer Broadcom is moving operations back to the U.S., pending shareholder approval, President Trump announced Thursday. The company, whose corporate headquarters is in San Jose, said the newly released GOP tax reform proposal will make it easier to do business in the U.S., although it also said its move will happen even if the proposal doesn't pass.

Why it matters: Trump claimed credit for Broadcom's decision, saying in his Oval Office announcement that his administration is working to make the U.S. business climate attractive " so that more and more companies like Broadcom come back to our shores, grow their businesses and credit more and more American jobs."

Broadcom CEO Hock Tan said in a statement said the move would bring $20 billion in annual revenue to the U.S., in addition to $4 billion in research and $6 billion in manufacturing.

What to watch: Becoming a U.S.-based company has other benefits for Broadcom, whose $5.5 billion acquisition of U.S. company Brocade is still under review by the Committee on Foreign Investment in the United States (CFIUS). Broadcom could skirt that review by becoming a U.S.-based firm, the Washington Post notes.

History lesson: The modern Broadcom is actually the result of Singapore-based Avago Technologies buying Irvine, Calif.-based Broadcom and keeping the name of the American entity. The original Broadcom was one of the biggest tech companies to emerge out of Orange County, Calif. It was founded in 1991 by two Henrys from UCLA, Henry Nicholas and Henry Samueli. Nicholas was pushed out as CEO amid allegations of accounting irregularities as well as personal drug use.

Go deeper

U.S: Nord Stream 2 "will not move forward" if Russia invades Ukraine

U.S. State Department spokesperson Ned Price during a press briefing at the State Department in Washington, D.C., on Tuesday. Photo: Kevin Lamarque/POOL/AFP via Getty Images

The U.S. will make sure the Nord Stream 2 gas pipeline project between Russia and Germany won't go ahead if Russian troops invade Ukraine, State Department spokesperson Ned Price told NPR on Wednesday.

Why it matters: Germany's ambassador to the U.S. appeared to support Price's strong rhetoric on the strategically significant pipeline that would circumvent Ukrainian transit infrastructure and deliver Russian gas directly to Germany, eliminating one of the last deterrents Ukraine has against an invasion, per Axios' Zachary Basu.

Scoop: Stephanie Ruhle to replace Brian Williams on MSNBC

Photo: Nathan Congleton/NBCU Photo Bank/NBCUniversal via Getty Images via Getty Images

MSNBC will soon announce plans to move morning anchor Stephanie Ruhle to the 11 pm ET hour that Brian Williams turned into an elite destination, two sources familiar with the move tell Axios.

Details: The 9 am ET hour, currently hosted by Ruhle, will become part of MSNBC's flagship morning show, "Morning Joe," which currently runs from 6 am to 9 am ET.

Oath Keepers leader denied bail on Capitol riot sedition charge

Oath Keepers co-founder Elmer Stewart Rhodes. Photo: Susan Walsh/AP

A federal judge ordered Oath Keepers leader Stewart Rhodes to remain jailed Wednesday until trial on charges stemming from the Capitol riot.

Why it matters: The judge said the most prominent far-right figure charged in the Jan. 6, 2021, insurrection had access to weapons and his alleged "continued advocacy for violence against the federal government" gave credence to prosecutors' view that, if released, Rhodes could endanger others.