The Latest Breaking News from Broadcom

On Tuesday, Nvidia (NASDAQ:NVDA) unveiled the Rubin CPX (Core Partitioned X-celerator) GPU (Graphics Processing Unit), a new processor class built for massive-context artificial intelligence workloads such as million-token coding and generative video at the AI Infra Summit.

Nvidia Corporation (NASDAQ:NVDA) has seen its price target slashed by Citi due to increasing competition in the artificial intelligence (AI) chip market.

Broadcom (NASDAQ:AVGO) has evolved from a smartphone component supplier into a major player in artificial intelligence chips and networking solutions, capitalizing on rising demand from tech giants building large-scale data centers. The stock gained attention Monday following reports of its partnership with OpenAI.

September S&P 500 E-Mini futures (ESU25) are up +0.26%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.34% this morning, pointing to a higher open on Wall Street as investors boosted their expectations for how much the Federal Reserve will cut interest rates this year.

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Broadcom has secured a $10 billion deal to supply custom AI accelerators and rack-scale hardware to an undisclosed customer — widely believed to be OpenAI — signaling that the design has been validated and full-scale deployment is on track for late 2026.

The August jobs report came in much weaker than expected, while the unemployment rate ticked higher.

Both history and folklore are replete with accounts of circumstances looking incredibly grim — until an unexpected catalyst delivers a much-needed reprieve. Investors of semiconductor giant Nvidia Corp (NASDAQ:NVDA) will be hoping for just such a turnaround. While the company has practically been synonymous with the remarkable rise of artificial…