(Image: Broadcom CEO Hock Tan at the White House)
AVGO recommendation was Jul 9 at $273. Up 24% in 39 sessions. You will need to upgrade to access this content.
I even covered it along with all 40 chart setups here:
Expect tech layoffs to accelerate into Q3 Q4 as co will want to write off the expenses related this fiscal yr. “A one time charge…yada yada”
For years, Nvidia Corp (NASDAQ:NVDA) has been the undisputed king of AI hardware, but OpenAI just threw a curveball. The ChatGPT maker has inked a $10 billion deal with Broadcom Inc (NASDAQ:AVGO) to co-design and mass-produce its own AI chips by 2026, signaling a seismic shift away from Nvidia's grip on the AI ecosystem. Broadcom's stock surged 15% on the news, vaulting its market cap to $1.7 trillion, while the industry digested what could be a new era in AI hardware independence.
Broadcom CEO Hock Tan called the mystery deal a source of "immediate and fairly substantial demand," confirming shipments will ramp up next year, reported Financial Times. Analysts are already pointing to this as a landmark moment, with HSBC projecting Broadcom's custom chip business to outpace Nvidia's growth by 2026.
The partnership positions Broadcom as the go-to chipmaker for AI giants eager to loosen Nvidia's chokehold on supply chains. Shares have now climbed over 30% this year, fueled by a custom-chip gold rush that could redefine the semiconductor hierarchy.
Layered chart of NVDA and AVGO
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