TheMotleyFool
· Feb 5, 2025, 20:04 · 1 min read
Why Broadcom Rallied Today
A
Alphabet Inc. C
GOOG
258.50 €
+1.25 %
Shares of semiconductor giant Broadcom (NASDAQ: AVGO) rallied 5.9% on Wednesday as of 12:10 p.m. ET.
Broadcom didn't report any news itself last night or today; however, a bullish forecast by its largest customer for artificial intelligence (AI) application specific integrated chips (ASICs) last night quelled recent fears around slowing AI spend.
On its earnings call last night, 's management forecast a whopping $75 billion in capital expenditures in 2025 to supply its artificial intelligence build-out. That would be up nearly 50% from the $52.5 billion Alphabet spent in 2024.
Source Fool.com
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