AI
Broadcom shares surge as solid forecast eases demand worries for AI chips
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Broadcom CEO on Thursday assuaged investor worries about AI chip demand with a strong second-quarter forecast and hinted about new potential customers that could boost revenue in a highly competitive market.
Its forecast eased concerns about the thirst for AI chips, a day after Marvell Technology’s spooked the market with a tepid forecast. Broadcom shares, which closed down 6%, surged 14% in extended trading after the results.
The chipmaker expects revenue of around $14.90 billion, compared with estimates of $14.76 billion, according to data compiled…
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