Blackrock’s 30 Most Important AI Stocks

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8. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 128 

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. This company stands out as a worthwhile investment due to a combination of multiple factors. Firstly, as per the final report of the fiscal year 2024, the revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue increased to $21.5 billion on the successful integration of VMware. Semiconductor revenue recorded was $30.1 billion, driven by AI revenue of $12.2 billion. AI revenue that grew 220% year-on-year was driven by the company’s leading AI XPUs and Ethernet networking portfolio. Secondly, the company is collaborating with different major tech companies, including Google, Meta Platforms, ByteDance, OpenAI, and Apple, to develop custom AI server chips, which will further solidify its position in the AI accelerator market and attract investors. Additionally, the company’s other AI solutions include PCIe Gen 5.0 switches, which serve as the open, standards-based fabric of choice for AI connectivity. They draw half the power of alternatives while offering industry-leading SerDes, telemetry and diagnostic capabilities.

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