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Broadcom (AVGO) Soars 3% on Major AI Chip Deals with Google and Anthropic
Broadcom (AVGO) Soars 3% on Major AI Chip Deals with Google and Anthropic
Broadcom Inc. (AVGO) shares surged Tuesday after the semiconductor developer secured landmark artificial intelligence chip agreements with Alphabet Inc. (GOOGL) and Anthropic, extending through 2031. The deals, centered on next-generation tensor processing units (TPUs), position Broadcom as a key architect for Google's AI data center infrastructure while granting Anthropic access to 3.5 gigawatts of computing capacity starting in 2027. Despite a 6.8% year-to-date decline amid recent sector-wide pessimism, Wall Street analysts maintain bullish forecasts for Broadcom, viewing the company as a formidable competitor to Nvidia (NVDA) in the accelerating AI hardware race.
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