Broadcom (AVGO) Stock Skyrockets on $10B OpenAI AI Chip Deal – Analysts Target $460
Broadcom shares rose 1.5% to about $345 on Oct. 23, capping a 50–70% surge in 2025 driven by AI chip demand. The company announced a $10 billion AI chip deal with OpenAI and launched the “Thor Ultra” 800G networking chip. Q3 revenue jumped 22% to $15.95 billion, with AI sales up 63%. Nearly 90% of analysts rate AVGO a buy, with price targets ranging from $345 to $460.