15 AI Stocks Taking Wall Street by Storm

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1. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 128

Broadcom Inc. (NASDAQ:AVGO) is a technology company that designs, develops, and supplies semiconductor and infrastructure software solutions. Its chips help in building AI data centers.

On November 25, Broadcom Inc. (NASDAQ:AVGO) and Arrow Electronics signed a new agreement where Broadcom authorized Arrow for the distribution of VMware solutions in the U.S. and Canada. VMware is a private cloud solution that delivers the security and agility enterprises need, supported by technologies for applications, edge infrastructure, and private AI. The agreement will enable Arrow to deliver VMware private cloud infrastructure solutions through its ArrowSphere platform, including VMware Cloud Foundation, VMware vSphere Foundation, VMware vSAN, and VMware vSphere Standard. In turn, channel partners will be able to gain immediate access to Arrow’s personalized assistance, training programs, and certified resources as part of its high-quality support services that span the commercial IT lifecycle.

“Arrow brings all the right capabilities to support the evolution of our go-to-market strategy within North America. Arrow’s extensive global reach and influence, coupled with its local expertise, is part of our cohesive strategy to create value for our channel partners and customers.”

– Cynthia Loyd, vice president of Global Partners and Commercial Sales at Broadcom.

While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AVGO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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