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Even if Broadcom cedes some of its revenue from GOOG to its competitor, AVGO's profits are still likely to soar going forward.
It's not a chip deal this time, and that’s what stands out
Marvell stock popped on Monday following reports that the firm is helping Google with two new AI chips. Top competitor Broadcom fell nearly 2% Monday, although the Google-Broadcom partnership remains strong.
Broadcom is back in the winners circle with new agreements in place with Google and Anthropic showing that the company's AI-driven growth is far from over.
Google, Broadcom and Anthropic sign new TPU deals to drive AI chips and capacity, while Google and Broadcom form a networking and chip partnership.
Broadcom (NASDAQ:AVGO | AVGO Price Prediction) shares are up 6% in midday trading on Tuesday, rising from $314.43 to nearly $333 as the company announced landmark long-term AI supply agreements with Alphabet‘s (NASDAQ:GOOGL) Google and AI startup Anthropic.
Anthropic bulked up its compute deal with Google and Broadcom as the company has seen its run-rate revenue surge to $30 billion.
Broadcom Inc. (NASDAQ:AVGO) is one of the 8 Best AI Stocks to Buy According to Billionaire Ken Griffin.
Broadcom (AVGO) nears a $1.8T valuation - acquisition-driven cash flow, AI portfolio gains, returns & risks. Read here for more details.
Marvell stock popped on a report it is in chip-design talks with Google, while Broadcom fell.