(Bloomberg) — Broadcom Inc.’s (AVGO) massive rally after last week’s earnings report is reminiscent of when Nvidia Corp. (NVDA) shares first started to take off back in 2023. The chipmaker now needs to prove it can follow through to become another giant of the artificial intelligence era. Most Read from Bloomberg Broadcom shares have soared…
US stocks jumped on Friday, partly driven by Broadcom’s blowout earnings report. Broadcom’s AI revenue soared 220% this year, helping drive its stock up 18% on Friday. Investors are eyeing the Fed meeting next week, anticipating a 25 basis point rate cut. US stocks jumped on Friday, with technology stocks leading the market higher after…
Stocks ended the session little changed on Friday despite Broadcom’s (AVGO) jump to all-time highs driven by the chipmaker’s bullish AI-fueled sales forecast. The S&P 500 (^GSPC) closed flat while the tech-heavy Nasdaq Composite (^IXIC) gained 0.1%. The Dow Jones Industrial Average (^DJI) slipped 0.1% The S&P 500 and Dow posted weekly losses, with the…
Broadcom (AVGO) closed Friday’s session 24% higher — ending the trading week 25.2% higher on its five-day moving average — after forecasting significant demand gains for its AI chips in the coming years in its latest earnings print. “We see our opportunity over the next three years in AI as massive,” Broadcom CEO Hock Tan…
Broadcom stock (AVGO) soared more than 20% Friday as the chipmaker touted its “massive” opportunity in the artificial intelligence market during a quarterly earnings call the prior evening. Broadcom CEO Hock Tan said the company expects its custom AI chips will generate between $60 billion and $90 billion in revenue over the next three years…
Shares of chipmaker Broadcom (AVGO) soared over 17% premarket Friday after the company touted its “massive” AI opportunity in its earnings report the prior evening. Broadcom reported earnings Thursday after the bell. Its quarterly earnings per share of $1.15 were slightly above the $1.12 forecast, and its revenue of $14.1 billion was in line with…
By Arsheeya Bajwa and Zaheer Kachwala (Reuters) -Broadcom forecast quarterly revenue above Wall Street estimates on Thursday and predicted booming demand for its custom artificial intelligence chips in the next few years. Shares of the Palo Alto, California-based company were up 14% in aftermaket trade after CEO Hock Tan told investors on a conference call…
Chip maker and enterprise software player Broadcom announced its financial results for the final quarter of its fiscal 2024 today, which ended on November third, and all we kept thinking about as chief executive officer Hock Tan went over the numbers was the question in the title above. We have never believed that Nvidia could…
In This Story Despite posting robust quarterly profits, Microsoft (MSFT-5.26%) and Meta (META-3.86%) shares slumped Thursday as both tech giants signaled substantial future AI spending requirements and slower growth prospects. The companies, which have emerged as leaders in the AI sector, saw their stocks decline despite heavy investments in generative AI that had previously fueled…
By Krystal Hu, Fanny Potkin and Stephen Nellis (Reuters) – OpenAI is working with Broadcom and TSMC to build its first in-house chip designed to support its artificial intelligence systems, while adding AMD chips alongside Nvidia chips to meet its surging infrastructure demands, sources told Reuters. OpenAI, the fast-growing company behind ChatGPT, has examined a…