By Jabin Bastian
Publication Date: 2026-06-02 21:01:00
What Happened?
Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO) jumped 5.2% in the afternoon session as investors positioned ahead of its fiscal Q2 FY2026 earnings report due after the close on June 3, amplified by independent AI catalysts as Anthropic confidentially filed to go public.
The day’s signals were unusually aligned. Alphabet announced plans to raise $80 billion, including a $10 billion investment from Berkshire Hathaway, earmarked for AI computing infrastructure. Broadcom designs Google’s TPU chips under a supply agreement running through 2031, making Alphabet’s capital deployment a direct forward revenue signal.
Also, Jensen Huang’s endorsement of Marvell (Broadcom’s closest rival in custom AI silicon) as the “next trillion-dollar company” at Computex validated the entire custom ASIC ecosystem, which Broadcom leads with approximately 60-70% market share.
Lastly, Anthropic’s confidential IPO filing matters directly for Broadcom: the…
