
Broadcom Inc (NASDAQ:AVGO) stock has gained over 64% year-to-date as its application-specific integrated circuits (ASICs), custom chips designed for artificial intelligence (AI) and high-performance computing, gain traction powered by the AI frenzy.
The close to $2 trillion company is taking a central role in Alphabet Inc (NASDAQ:GOOGL) Google’s next-generation AI chip rollout as it moves to lock in high-bandwidth memory (HBM) supplies from Samsung Electronics Co, Ltd (OTC:SSNLF).