Broadcom raises AI chip forecast as Big Tech keeps writing bigger checks
Broadcom on Wednesday forecast strong AI chip sales for the next two years, offering fresh evidence that Big Tech’s appetite for AI infrastructure remains undiminished as investors scrutinize returns on massive spending.
Shares of the Palo Alto, California-based company were down over 1% in extended trading, recouping some earlier losses.
They have gained about 6% this year, significantly underperforming rivals and the broader semiconductor index , as AI spending concerns and increased competition persist, including Marvell’s recent custom chip deal with Google.
