BMO bullish on Broadcom's custom AI chips ahead of earnings, initiates with "Outperform" rating

Odaily Planet Daily News: BMO Capital Markets has initiated coverage of Broadcom with an "Outperform" rating and a price target of $455. BMO analyst Harsh Kumar stated that Broadcom is a leading AI supplier in the custom ASIC and networking space, and the world's second-largest AI chip company after NVIDIA.

It has been reported that Broadcom is in talks to raise over $60 billion through debt financing to fund AI chips for clients such as Anthropic. Blackstone and Apollo may participate, and the final financing amount could reach $100 billion.