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Broadcom Emerges as Potential Rival to Nvidia in AI Chip Market
Broadcom Emerges as Potential Rival to Nvidia in AI Chip Market
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BTCCSquare news:
Broadcom shares surged 3% on Monday, extending a five-day rally to nearly 20% following record Q3 revenues driven by AI chip demand. Analyst Ben Reitzes of Melius Research suggests the company could capture 30% of the AI compute market, challenging Nvidia's dominance.
A $10 billion order for AI chips—reportedly from OpenAI—signals Broadcom's growing influence. Reitzes includes the firm among the 'Magnificent 8' tech giants, noting substantial upside potential. The competitive landscape is shifting as rivals like AMD also vie for market share.
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