Will generative AI boost Broadcom's stock in 2024?

The push by big cloud providers to diversify their supply chains has turned Broadcom into one of the biggest beneficiaries of the generative AI boom. Its shares have gained 54% in 2024, after almost doubling in value last year. Broadcom's central competitor in this space is Marvell.

Does Broadcom have a custom chip design business?

One of those devices comes from Broadcom, and it has been shown at the company's recent investor events. For most observers, Broadcom is a networking and telecommunications giant, but the company also has a significant custom chip design business.

Will a big tech company boost Broadcom's ASIC prices?

Analysts have claimed upside for Broadcom fueled by U.S. Big Tech giants’ focus on custom ASIC solutions for their AI compute accelerators. Reports claimed key contract chipmaker Taiwan Semiconductor Manufacturing Co’s (NYSE:TSM) plans to boost prices of its services. That can affect the margins of its customers, including Broadcom.