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Broadcom Stock Surges on Oracle’s AI-Driven Cloud Growth Forecast
Broadcom Stock Surges on Oracle’s AI-Driven Cloud Growth Forecast
23
2
BTCCSquare news:
Broadcom (AVGO) shares jumped 8.6% Wednesday as Oracle's explosive cloud infrastructure projections sent ripples through tech markets. The semiconductor giant, a key supplier for AI data centers, benefited from Oracle's guidance of 77% annual cloud revenue growth—with ambitions to reach $144 billion within five years.
Oracle's $300 billion OpenAI data center deal further electrified investor sentiment. While Broadcom wasn't directly named in the announcements, its position as a leading provider of connectivity chips and hardware positions it as a clear beneficiary of the AI infrastructure boom. The rally occurred against mixed broader market performance, with the NASDAQ edging up 0.1% while the Dow dipped 0.3%.
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