Reported 1 day ago
Broadcom Inc. (NASDAQ:AVGO) is reportedly increasing its market share in the AI-chip sector as major tech companies like Amazon and Alphabet produce their own chips, reducing their reliance on Nvidia (NASDAQ:NVDA), according to Gil Luria of DA Davidson. Companies such as Tesla, Meta, and Microsoft are also developing their AI chips with Broadcom's assistance, presenting new growth opportunities for the company. Recently, Broadcom's stock has risen significantly, climbing 22% in the last month.
Source: YAHOO