1 Amazing Broadcom Forecast Means Great Things for Nvidia Lie Ahead
The cat's out of the bag: It's not just Nvidia's (NASDAQ: NVDA) expensive GPUs that are needed to build massively complex generative artificial intelligence (AI) services like ChatGPT. While Nvidia chips act as the "brain" of AI, something else is needed to move all the data around. That's where fellow chip design giant Broadcom (NASDAQ: AVGO) comes in.
Nvidia was reluctant to provide any specific guidance based on its booming AI business beyond the next quarter, but Broadcom CEO Hock Tan offered a few extra tidbits on the financial outlook for AI that extend into 2024. It means great things for Broadcom's business, but perhaps even more so for Nvidia -- and may even justify that "expensive" stock price.
Naturally, Tan opened his remarks on the last Broadcom earnings call talking about generative AI. With all the buzz these days surrounding ChatGPT and the firestorm of cloud giant AI spending it has spawned, investors want to hear about financial results pertaining to this trend.
Source Fool.com
Broadcom Ltd. Stock
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