Broadcom Inc. (NASDAQ:AVGO) is riding the artificial intelligence boom as soaring Big Tech investments in data infrastructure fuel demand for its custom chips and networking solutions, propelling the stock to strong year-to-date gains even as the company faces regulatory challenges in Europe.
The custom chipmaker has surged 25% year-to-date, outpacing the NASDAQ Composite’s 9% gain, as booming demand for its networking and Application-Specific Integrated Circuit (ASIC) businesses positions the chipmaker at the center of the AI-driven rally.
