Broadcom receives favorable outlook from Citigroup: target price raised to $415 after collaboration with OpenAI
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Broadcom has reached a cooperation with OpenAI, and Citigroup has raised its target price from $350 to $415, maintaining a "Buy" rating. Analysts expect the deal to bring approximately $100 billion in revenue to Broadcom over the next few years, contributing $8 in earnings per share. The first batch of custom chips is expected to be delivered by the end of 2026. OpenAI's AI infrastructure planning is projected to reach capital expenditures of $1.3 trillion by 2030, with revenue increasing from $12.5 billion in 2025 to $163 billion in 2030
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