Broadcom shares pop 5% to 3-week high on long-term Google, Anthropic chip deals

Shares of heavyweight chipmaker Broadcom jumped 5% in Thursday’s trade, hitting a three-week high of $330 per share, even as key Wall Street averages were trading lower.

The rally in the stock on 6 April was triggered after the chipmaker announced a long-term agreement with Google to develop and supply Tensor Processing Units. The companies also confirmed plans to work with Anthropic to power the AI startup’s burgeoning operations.