BUZZ-Broadcom rises premarket on long-term deal to develop Google’s custom AI chips
Reuters16:08
BUZZ-Broadcom rises premarket on long-term deal to develop Google’s custom AI chips
** Shares of chip firm Broadcom AVGO.O up 2.6% premarket
** Broadcom signs long-term deal with Google GOOGL.O to develop and supply future generations of custom AI chips and other components for the company's next-generation AI racks through 2031
** Co also signed a deal with Anthropic to provide the AI startup access to about 3.5 gigawatts of AI computing capacity drawing on Google's AI processors, starting in 2027
** Financial terms of the deals were not disclosed
** On average 51 analysts rate AVGO "buy"; their median PT is $465 - LSEG-compiled data
** AVGO down ~9% so far this year
(Reporting by Joel Jose in Bengaluru)
((joeljose@thomsonreuters.com))
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