Good morning. Tech stocks position for a strong rebound as a key chipmaker predicts a boom in demand. SpaceX wants its own city. And your favorite hot sauce may soon go from wild to mild. Listen to the day’s top stories.
The AI spending frenzy looks like it still has a ways to go. Chipmaker Broadcom said it expects 65% growth in AI product sales this quarter and that the potential market for AI components that it designs for data centers may reach $90 billion by fiscal 2027. Investors piled into the stock in early trading, offsetting the blow from yesterday’s news that Apple—one of its biggest customers—plans to replace Broadcom’s wireless chip with homegrown tech, code-named Proxima.
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