Broadcom jumps as upbeat forecast raises hopes of AI rally resurgence
- Broadcom's shares soared 12% in premarket trading on Friday as the semiconductor maker's strong revenue forecast helped restore some confidence in AI chip demand after a bruising sector-wide selloff following rival Marvell Technology's bleak outlook.
Broadcom CEO Hock Tan said on Thursday the company expects AI chip revenue of $4.4 billion in the second quarter, underscoring the push from large cloud providers to reduce dependence on the costly processors designed by Nvidia. Broadcom is set to add more than $91 billion to its market value if premarket gains hold, but would still be below the $1 trillion valuation threshold it had first crossed in December in what was dubbed as its "Nvidia moment".
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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