9 Must-See AI News Updates That Are Trending on Wall Street

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 128

Broadcom Inc. (NASDAQ:AVGO) is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets. On February 6th, Blayne Curtis from Jefferies reiterated a “Buy” rating on the stock, as reported by TipRanks. Shares of the stock surged 4.3% on Wednesday and gained another 1.5% on Thursday’s pre-market trading session. The uptrend can be attributed to news from one of its major clients, Alphabet. Alphabet recently announced that it is planning to invest up to $75 billion in 2025 to expand its artificial intelligence infrastructure. Broadcom, being a key supplier of custom AI application-specific integrated chips (ASICs) to Google, will stand to benefit from the substantial investments. This is because Alphabet’s increased capex will increase the demand for Broadcom’s semiconductor solutions.