Broadcom (AVGO) Gains as Big Tech’s AI Spending Spree Drives Chi

Broadcom (AVGO, Financial) jumped 4.3% on Wednesday and ticked up another 1.38% pre-market at 7:44 a.m. ET, trading at $235.21, as investors reacted to Alphabet’s (GOOG, Financial) (GOOGL, Financial) aggressive AI infrastructure spending plans.

Alphabet announced a $75 billion investment in AI expansion for 2025, joining other tech giants like Meta Platforms (META, Financial), which plans to spend $60 billion to $65 billion, and Microsoft (MSFT), which is budgeting $80 billion for AI.

The…