Financial experts have rated this company as the next Nvidia; what's the reason and should you invest?
Broadcom has become a go-to supplier for big technology companies looking to reduce their dependence on pricey, supply-constrained AI processors made by front-runner Nvidia by developing their own advanced custom chips. That has pushed Broadcom's shares up more than 62 per cent so far this year.
Broadcom has association with tech giants Meta, Google, and ByteDance.
Earlier in December, CEO Hock Tan said that he expected the AI market to present a revenue opportunity between $60 billion and $90 billion for fiscal 2027, adding that Broadcom had won two major hyperscaler customers, which refers to large cloud firms.
The company said it captured more than $12 billion of the total serviceable AI revenue of between $15 billion and $20 billion in fiscal 2024. This includes both its custom AI chips as well as the networking equipment used in data centers.
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