Top 10 Blue Chip AI Stocks to Buy According to Billionaire Cliff Asness

6. Broadcom Inc. (NASDAQ:AVGO)

AQR Capital Management Equity Stakes: $660.47 Million

Number of Hedge Fund Holders: 161

Broadcom Inc. (NASDAQ:AVGO) is a technology company that designs, develops, and supplies semiconductor and infrastructure software solutions. Its products and services serve data centers, networking, software, broadband, wireless, storage, and industrial sectors. It is one of the best blue chip AI stocks to buy, according to billionaire Cliff Asness, as it is not dependent entirely on the AI market.

Broadcom Inc. (NASDAQ:AVGO) sells plenty of networking, optical, and custom accelerator chips for AI-oriented data centres. Additionally, it boasts a robust and solid customer pipeline that includes Meta and Alphabet for its custom chips for data centers. As IT companies create vast AI infrastructure to compete with each other, demand for AI data centers should drive growth in the upcoming years.

Analysts predict that once Broadcom Inc. (NASDAQ:AVGO) completes its VMware acquisition integration, its sales and adjusted EPS will increase by 21% and 36%, respectively, in fiscal 2025. Broadcom’s AI-related revenue increased 77% to $4.1 billion in the first quarter, with earnings per share of $1.14. Given that Broadcom’s entire addressable market may reach $90 billion in just two years, the strong growth is anticipated to continue.