Larry Ramer
2 min read
In This Article:
Broadcom Inc. (NASDAQ:AVGO) is gaining market share in the AI-chip space as more tech giants look to obtain fewer of their AI chips from Nvidia Corporation (NASDAQ:NVDA) by making their own semiconductors, Gil Luria of investment bank DA Davidson said on CNBC recently.
Luria is the Head of Technology Research at DA Davidson.
A technician working at a magnified microscope, developing a new integrated circuit.
With Broadcom Inc. (NASDAQ:AVGO)'s help, Amazon.com (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOG) are increasing the production of their own AI chips, Luria said. Meanwhile, Tesla, Inc. (NASDAQ:TSLA), Meta Platforms, Inc. (NASDAQ:META), and Microsoft Corporation (NASDAQ:MSFT) are evaluating AI chips that they've developed and are attempting to produce more of them, the researcher noted.
"Broadcom Inc. (NASDAQ:AVGO) has an opportunity to grow its (market) share (further) as it helps other companies make their own chips," Luria contended.
In the last month, the shares have climbed 22%, while they have advanced 11% in the last three months.
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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: The author owns shares of AMZN but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey.
