
Tech Stocks Tumble as Broadcom Plunge Rattles Market
Technology stocks led a broad market decline on Friday, with the Nasdaq falling 1.7% after Broadcom's shares plunged over 11% on a weak outlook.
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Technology stocks led a broad market decline on Friday, with the Nasdaq falling 1.7% after Broadcom's shares plunged over 11% on a weak outlook.

Major tech companies are significantly increasing AI infrastructure investments, fueling a multi-year growth cycle for semiconductor firms like Nvidia, Broadcom, and Micron.

Taiwan Semiconductor Manufacturing Company (TSMC) reported September sales that beat forecasts, signaling continued strong demand for AI chips from clients like Nvidia and Broadcom.

Broadcom shares surged over 10% after the company announced a multiyear deal to supply custom AI processors and networking technology to OpenAI.

Broadcom, Meta Platforms, and Microsoft have positioned themselves as leaders in the artificial intelligence sector through strategic initiatives in hardware, software, and cloud computing.