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Broadcom (AVGO) Soars on Massive AI Chip Demand and Strong Earnings Beat

Reuters Read original source (opens in a new tab)
The Story

News Summary

  • Broadcom reported a 48% revenue surge in Q2, beating adjusted EPS expectations despite a minor revenue miss.
  • Growth was heavily fueled by a 143% increase in AI-related semiconductor revenue, signaling robust demand for its custom AI chips and networking infrastructure.
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AVGO price history

361.99 -3.69% over the displayed period

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