Broadcom Shares Are On The Rise Today: What's Going On?

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Broadcom shares are rising after announcing its PCIe Gen 6 portfolio and a partnership with Micron to expand AI infrastructure.
The stock has gained 643% in five years and reached a trillion-dollar valuation in 2024, driven by AI demand.
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Broadcom Inc. AVGO shares are moving higher Wednesday after the company announced the availability of its end-to-end PCIe Gen 6 portfolio and a partnership with Micron Technology for AI infrastructure expansion.

What To Know: Broadcom is extending its PCIe leadership by offering early access to its PCIe Gen 6 Interop Development Platform, which enhances interoperability and system design with advanced telemetry and diagnostics.

In collaboration with Micron and Teledyne LeCroy, Broadcom has tested its high-port switch and timer for compliance, supporting open AI infrastructure solutions. The AI industry, including hyperscalers and system manufacturers, is incorporating Broadcom’s PCIe Gen 6 technology into next-generation AI rack solutions.

Broadcom’s connectivity portfolio is built on in-house SerDes technology and features extended reach, lower power dissipation and streamlined interoperability. By partnering with PCIe industry leaders, Broadcom aims to provide fully validated PCIe Gen 6 building blocks for AI workloads.

Broadcom’s stock has surged 643% over the past five years and 55% in the last 12 months. The company reached a trillion-dollar valuation in 2024, driven by demand for AI-related technology.

BofA Securities analyst Vivek Arya remains optimistic about Broadcom but does not expect it to challenge Nvidia’s dominance in the GPU market. He predicts ASICs, including Broadcom's, could capture 10%-15% of the overall accelerator market.

AVGO Price Action: Broadcom shares closed Wednesday up 5.13% at $212.94, according to Benzinga Pro.