Broadcom shares surge 22.6% in a month as partnerships with Meta and Google boost AI infrastructure outlook.
Goldman Sachs revised its price target for Broadcom (AVGO) higher, citing strong demand for AI infrastructure and the company’s VMware integration. The stock has climbed 22.6% over the past month, outpacing the S&P 500’s 9.1% gain in the same period.
Broadcom’s rally follows extended partnerships with Google, Anthropic, and Meta, along with the launch of VMware Cloud Foundation 9.1. The platform promises up to 40% lower server costs for AI workloads, reinforcing its competitive edge in enterprise software.
Semiconductor sector confidence has also been bolstered by recent earnings from peers like Intel, further supporting Broadcom’s upward momentum.