Why Is Broadcom Stock Soaring Monday? - Broadcom (NASDAQ:AVGO)

Report: OpenAI will launch its own AI chip next year

The company behind ChatGPT is working with Broadcom to create its own custom GPUs, which it will reportedly use exclusively for internal purposes.

Why Is Broadcom Stock Soaring Monday? - Broadcom (NASDAQ:AVGO)

Broadcom (AVGO) is a top AI chip and networking provider, boosted by tech giants' demand for data centers. A $10B OpenAI deal led to a 11% stock surge.

Broadcom to build custom chips for OpenAI in $10 billion deal

Broadcom disclosed during its quarterly earnings call on Thursday that a fourth major AI developer had signed on as a customer, placing a one-time order worth $10 billion for AI server racks powered by its chips. People familiar with the matter told The Wall Street Journal that the buyer is OpenAI.Read Entire Article

OpenAI strikes $10bn chip deal with broadcom to cut Nvidia dependence

OpenAI to invest $10bn in developing its own AI chips

OpenAI is investing $10bn in a deal with US semiconductor firm Broadcom to develop its own artificial intelligence chips, according to reports in the Financial Times and Wall Street Journal. The partnership is aimed at reducing OpenAI’s reliance on Nvidia, whose processors currently dominate the AI industry. The new custom chips are expected to be available from next year and will be used internally by OpenAI to train and run models such as Chat…

CWEB Business News Broadcom Stock Surges on Massive AI Chip Order Tied to OpenAI

Broadcom’s (AVGO) stock soared by more than 11% on Friday, adding a staggering $130 billion to its market valuation, following a blockbuster earnings report and a monumental announcement from its CEO. The catalyst for the surge was the revelation that a major new customer has committed to $10 billion in orders for the company’s custom […]