Shares of chip firm Broadcom (AVGO.O) up 2.6% premarketBroadcom signs long-term deal with Google (GOOGL.O) to develop and supply future generations of custom AI chips and other components for the company’s next-generation AI racks through 2031Co also signed a deal with Anthropic to provide the AI startup access to about 3.5 gigawatts of AI computing capacity drawing on Google’s AI processors, starting in 2027Financial terms of the deals were not disclosedOn average 51 analysts rate AVGO “buy”; their median PT is $465 - LSEG-compiled dataAVGO down ~9% so far this year

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- Broadcom's shares rose by 2.6% in premarket trading following a long-term deal with Google to develop custom AI chips through 2031.  
- Additionally, Broadcom signed an agreement with Anthropic to provide access to 3.5 gigawatts of AI computing capacity based on Google's processors starting in 2027.  
- Currently, 51 analysts rate Broadcom as a "buy," with a median price target of $465, although the stock has decreased by approximately 9% this year.

Reuters

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BUZZ-Broadcom rises premarket on long-term deal to develop Google’s custom AI chips