Broadcom stock pops as AVGO flags $100 billion AI chip path and ramps buybacks
Broadcom shares jumped 4.3% to $331.12 by midday after the company projected AI chip revenue above $100 billion by 2027 and announced a new $10 billion share buyback. The company also forecast stronger near-term results. U.S. stocks slipped as Middle East tensions raised energy price risks ahead of Friday’s payrolls data.