Broadcom Soars as Demand for AI Chips Powers Forecast Raise

Jun 13, 2024 · Broadcom Soars as Demand for AI Chips Powers Forecast Raise. By Reuters | June 13, 2024. ... June 13, 2024, at 8:16 a.m. Save. More. Broadcom Soars as Demand for AI Chips Powers Forecast Raise ...

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Broadcom Soars As Demand For AI Chips Powers Forecast Raise

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Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. The rising adoption of generative AI has been driving demand for …

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Broadcom Soars As Demand For AI Chips Powers Forecast Raise

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Jun 13, 2024 · By Arsheeya Bajwa (Reuters) - Broadcom (NASDAQ: AVGO) surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology ...

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Broadcom Soars As Demand For AI Chips Power Forecast Raise

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Jun 13, 2024 · The rising adoption of generative AI has been driving demand for companies such as Broadcom that provide chips and networking tools to support these intensive applications. Broadcom, whose shares have risen 76% in the past 12 months and closed at $1495.5 on …

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Broadcom Soars As Demand For AI Chips Powers Forecast Raise

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Broadcom’s AI-Fueled Forecast Triggers Biggest Rally Since 2020

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Jun 13, 2024 · (Bloomberg) -- Broadcom Inc., a chip supplier for Apple Inc. and other big tech companies, rose as much as 16% in New York trading after delivering strong results and an upbeat forecast, lifted by ...

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Broadcom Soars As Demand For AI Chips Powers Forecast Raise

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Jun 13, 2024 · Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. The rising adoption of generative AI has …

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Broadcom Soars As Demand For AI Chips Power Forecast Raise

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Jun 13, 2024 · The company on Wednesday raised its forecast for annual revenue from AI-linked chips to $11 billion from $10 billion. It also raised its annual revenue and core profit projections. Broadcom said it will make the next generation of custom AI chips for “hyperscaler” clients, …

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Broadcom Soars As Demand For AI Chips Powers Forecast Raise

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Jun 13, 2024 · Broadcom surged more than 13% on Thursday as its upbeat annual forecast highlighted an insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria.The rising adoption of generative AI has …

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Broadcom Soars As Demand For AI Chips Powers Forecast Raise

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Jun 13, 2024 · By Arsheeya Bajwa (Reuters) - Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its ...

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Broadcom's AI Boom Vs. Trump 2.0 Risks - Seeking Alpha

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1 day ago · The EBITDA forecast for the fiscal year now stands at 61.5% based on high-margin infrastructure software and continued AI demand. This guidance positions Broadcom advantageously within the ...

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FAQs about Broadcom Soars as Demand for AI Chips Powers Forecast Raise Coupon?

Why did Broadcom surge 15% on Thursday?

REUTERS/Mike Blake/File Photo Purchase Licensing Rights June 13 (Reuters) - Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. ...

Does Broadcom make AI chips for 'hyperscaler' customers?

It also raised its annual revenue and core profit projections. Broadcom said it will make the next generation of custom AI chips for "hyperscaler" clients, which are widely considered to be Alphabet's Google and Meta Platforms. The company said in March it added a third custom AI chip customer. ...

Will Broadcom benefit from generative AI investment?

The company said in March it added a third custom AI chip customer. "We continue to see Broadcom as incredibly well-positioned to benefit from rising generative AI investment in the long term," Morningstar analysts said. ...

How much money does Broadcom make from AI-linked chips?

The company on Wednesday raised its forecast for annual revenue from AI-linked chips to $11 billion from $10 billion. It also raised its annual revenue and core profit projections. Broadcom said it will make the next generation of custom AI chips for "hyperscaler" clients, which are widely considered to be Alphabet's Google and Meta Platforms. ...

Is Broadcom on track for its biggest surge in 4 years?

(Bloomberg) -- Broadcom Inc., a chip supplier for Apple Inc. and other big tech companies, is on track for its biggest surge in four years after its latest results topped estimates, lifted by robust demand for artificial intelligence products. Most Read from Bloomberg Hunter Biden Was Convicted. His Dad’s Reaction Was Remarkable. ...

How much will Broadcom make a year?

That compared with an average estimate of $10.80. Revenue rose to $12.5 billion, compared with a projection of $12.1 billion. Sales in the full fiscal year, which runs through October, will be about $51 billion, the company said. Analysts had projected about $50.6 billion, and Broadcom earlier said the figure would be closer to $50 billion. ...