17 Trending AI Stocks According to Latest News And Analyst Ratings

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7. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 115

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. The company has many big tech firms as customers, including Meta Platforms, Amazon, and Google, among others. These tech firms are on track to spend record amounts of capital to furnish their AI data center needs in the coming months. Broadcom will be one of the biggest beneficiaries of this spending. The shares of the chipmaker have also gained traction with reports that ByteDance, the Chinese firm that owns popular social media platform TikTok, is partnering with Broadcom to develop a new AI chip.

Finance bigwigs at investment advisory Citi appreciate the new developments involving Broadcom Inc. (NASDAQ:AVGO). In a recent note, the analysts predict that the company is catching up with AI giant NVIDIA in terms of positive sentiment, largely as a result of more AI customers joining, like Open AI and Bytedance, as well as accretion from VMware, a cloud computing firm recently purchased by the chipmaker.

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