BUZZ-Broadcom rises premarket on long-term deal to develop Google’s custom AI chips

Alphabet Inc. Class A
Broadcom Limited

Alphabet Inc. Class A

GOOGL

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Broadcom Limited

AVGO

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** 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


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