Why Broadcom Stock Is Gaining Today
(NASDAQ: AVGO) stock is jumping in Tuesday's trading following news of a new artificial intelligence (AI) chip project. The company's share price was up 3.8% as of 3 p.m. ET.
Reuters published a report today stating that OpenAI is working on a new in-house AI chip. Broadcom is assisting with the design of the chip, and Taiwan Semiconductor Manufacturing is also involved in the process.
OpenAI is at the forefront of the generative AI trend. The company is responsible for services including ChatGPT, Dall-E, and Sora, and its technologies have relied on hardware from Nvidia and other advanced semiconductor providers.
Source Fool.com
Broadcom Ltd. Stock
€219.05
0.900%
The stock is an absolute favorite of our community with 77 Buy predictions and no Sell predictions.
As a result the target price of 242 € shows a slightly positive potential of 10.48% compared to the current price of 219.05 € for Broadcom Ltd..
