10 AI News You Can’t Miss

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3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 128

Broadcom Inc. (NASDAQ:AVGO) is a technology company known for its custom chip offerings and networking assets. On December 20, Morgan Stanley analyst Joseph Moore raised the firm’s price target on Broadcom (AVGO) to $265 from $233 and kept an “Overweight” rating on the shares. The firm is quite optimistic about the semiconductor industry as artificial intelligence continues to dominate market trends. The firm noted how “other areas are bottoming out slowly; AI strength now dominates the index weightings”. In particular, the analysts have highlighted Broadcom’s growing customer base and potential for Ethernet expansion in artificial intelligence. Ethernet is a dominant networking technology featuring the lowest job completion time (JCT) for AI training and inference. It can link over a million AI accelerators essential for scaling AI networks.

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