The Latest Breaking News from Hock Tan

OpenAI is set to begin mass production of its first proprietary artificial intelligence chip next year through a partnership with Broadcom Inc. (NASDAQ:AVGO), marking a strategic shift away from its reliance on Nvidia Corp. (NASDAQ:NVDA) amid surging demand for artificial intelligence computing power.

Broadcom stock has been on an absolute tear in the last decade and is poised to benefit from the AI megatrend. Is AVGO stock still a good buy?

Broadcom posted Q2 results that beat estimates, but only by an inch. With shares still near highs, the focus remains on its four potential hyperscale customers.

Lip-Bu Tan, who was born in Malaysia and went to university in Singapore, will take over as Intel's CEO on March 18. The news sent shares up over 10%.

Broadcom's share price rose by as much as 14% in extended trading, after the firm reported healthy demand for its custom AI chips.

The prospective split comes close to its recent one in July.

Three hyperscalers approach Broadcom to deploy 1,000,000 GPUs or XPUs by 2027.

Hock Tan dismisses an idea to acquire Intel, as Broadcom still has to devour VMware.

The semi ETF (SMH) has reclaimed key technical levels and is approaching significant resistance, signaling a potential breakout as investor sentiment improves.