WASHINGTON (dpa-AFX) - Broadcom Inc. (AVGO) jumped 10.36%, closing at $375.46, up $35.26, following reports that the company is closely tied to a major AI infrastructure rollout alongside Alphabet.
The move positions Broadcom as a key player in the generative AI boom by supplying advanced networking and custom chip solutions to hyperscale cloud providers.
Analysts noted the company's infrastructure role is increasing as AI models and data center expansion accelerate. With Broadcom's technology becoming central to the next-generation AI stack, investor sentiment soared.
On the day of the announcement, AVGO experienced significant trading volume as investors reacted to the heightened exposure to AI. The stock's 52-week range is approximately $315.20 - $385.98.
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