AI News Investors Should Not Miss

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8. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 130

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. William Blair analyst Sebastien Naji recently initiated coverage of Broadcom Inc. (NASDAQ:AVGO) stock with an Outperform rating. In an investor note accompanying the ratings update, the analyst highlighted that Broadcom was targeting $12 billion in AI revenue in fiscal year 2024 and the investment advisory saw room for continued steady growth into fiscal year 2025 and fiscal year 2026 for the chipmaker, largely driven by increasing custom chip demand, improved software monetization, recovery in non-AI semi chips and accelerating growth of Ethernet AI network fabrics.

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