Broadcom jumped nearly 4% in trading Wednesday after the chipmaker announced a deal with Meta to design the hyperscaler’s custom artificial intelligence accelerators. Analysts on Wall Street in their first take broadly saw the announcement as a positive, but disagreed whether it materially changed the outlook for Broadcom shares. The partnership will lead to an initial deployment of 1 gigawatt of power, with it expected to scale to multiple gigawatts through 2029. As part of the expanded partnership between the two companies, Broadcom CEO Hock Tan announced he won’t run for reelection for a seat on Meta’s board, which he joined in 2024. It comes on the heels of Broadcom announcing last week expanded deals with both Google and Anthropic. “Strategically, we see this as further evidence of AVGO’s leading position in the AI/XPU/Networking sectors, and while not overtly announced as an [long-term agreement] like the recent collaboration with Google/Anthropic, we view the…
QCOM, NVDA, or AVGO: Which Chip Stock Is the Best Pick, According to Wall Street Analysts? TipRanks Article Source https://www.tipranks.com/news/qcom-nvda-or-avgo-which-chip-stock-is-the-best-pick-according-to-wall-street-analysts Facebook…