Could This New Chip Be a Game Changer for Broadcom Stock?
Broadcom recently unveiled a new inference-focused chip designed to meet OpenAI's needs, and the early results are promising.
Overview
Shares of custom chipmaker Broadcom (NASDAQ: AVGO) have been under pressure of late. They're up about 8% for the year, but it wasn't all that long ago that the stock was flying much higher, at nearly $500. As of Monday's close, however, it was at just $372 -- down 25% from its recent high.
The company, however, did announce a new custom chip that could lead to some exciting growth opportunities ahead for the business, focused on inference. Could this be the catalyst that could lift the tech stock to new heights?
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Originally published at www.fool.com.
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