Reported 1 day ago
Broadcom's stock surged over 9% to a record high after strong quarterly earnings hinted at its AI chips posing a significant challenge to Nvidia. The company's market capitalization rose to nearly $1.6 trillion, driven by projected revenue from AI chips exceeding expectations and new partnerships, notably with OpenAI. Analysts indicate that Broadcom's custom chips are cementing its position as a leading alternative in the AI market, although Nvidia remains a dominant force despite recent declines.
Source: YAHOO