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Why AI Stock Broadcom Topped the Market on Tuesday
A new product rollout is always an attention-grabbing piece of news in the corporate world, and that goes double for businesses involved with artificial intelligence (AI).On Tuesday, specialty chip maker Broadcom (NASDAQ: AVGO) announced it began shipping an advanced networking chip. Investors greeted this by pushing the company's stock up by more than 3% that trading session. That gain easily trounced the 0.6% increase of the S&P 500 index.Broadcom's Tomahawk 6 switch series is now on its way to the market, the company announced that morning (a switch, also known as a switching chip, is a highly specialized component that handles data trafficking through a computer network). Continue reading
A new product rollout is always an attention-grabbing piece of news in the corporate world, and that goes double for businesses involved with artificial intelligence (AI).
On Tuesday, specialty chip maker Broadcom (NASDAQ: AVGO) announced it began shipping an advanced networking chip. Investors greeted this by pushing the company's stock up by more than 3% that trading session. That gain easily trounced the 0.6% increase of the S&P 500 index.
Broadcom's Tomahawk 6 switch series is now on its way to the market, the company announced that morning (a switch, also known as a switching chip, is a highly specialized component that handles data trafficking through a computer network).
