
Shares of AI semiconductor behemoth Broadcom (NASDAQ: AVGO) got a solid boost on July 15 as the company made a key announcement regarding its latest innovation, Tomahawk Ultra. Broadcom says it has begun shipping the new networking chip that is specifically designed for AI and high-performance computing workloads.
Shares rose by 2% on the day of this announcement, leading the stock to a new all-time closing high.