Broadcom stock rises about 2% on AI chip outlook
Broadcom shares were up about 2% in early Monday trading as investors renewed confidence in the company’s AI chip outlook, following CEO Hock Tan’s rejection of concerns that slower AI development would weaken demand for Broadcom’s custom processors and networking products.
Broadcom shares were up about 2% in early Monday trading as investors reacted to renewed confidence in the company's AI chip outlook. The move followed CEO Hock Tan's recent dismissal of concerns that slower AI development could weaken demand for Broadcom's custom processors and networking products.