Broadcom Stock Jumps After Formalizing $10 Billion AI Infrastructure Deal With OpenAI
Synopsis
This comes after Broadcom disclosed a $10 billion customer partnership during its latest earnings call, which analysts assumed was signed with OpenAI.
OpenAI and Broadcom (AVGO) announced Monday a joint initiative to build and deploy 10 gigawatts of custom AI accelerators, formalizing what analysts had assumed was the $10 billion customer partnership that Broadcom announced during its September earnings call.
Boadcom’s stock soared more than 11% pre-market following news of the deal. It was among the top trending tickers on Stocktwits. Retail sentiment around the company moved higher within ‘bullish’ territory.
The companies did not disclose the financial terms of the agreement.
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