Broadcom (AVGO) rose as much as 5% on Tuesday and was still up 3.5% at 11:20 a.m. ET, after DA Davidson analyst Gil Luria upgraded the stock and raised his price target to $400 from $350, implying potential upside of 22% from Monday’s close. After reviewing Anthropic’s regulatory filing ahead of its IPO, Luria noted that Broadcom is both a supplier and lessor to the AI start-up, with a non-cancelable five-year lease and deposited funds to secure compute capacity, which provides visibility into part of Broadcom’s future AI chip business. A Wall Street Journal report said CEO Hock Tan lobbied banks and private equity firms to help Anthropic secure $63 billion in financing for TPUs being developed with Google. Broadcom trades at 29 times forward earnings and 17 times next year’s expected earnings, which may look pricey, but the article cites its 0.43 PEG ratio and triple-digit growth as reasons it is reasonably priced.
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BroadcomAnthropicsemiconductorsartificial intelligenceIPO
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Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/26/2026 | 216.00 |
| Change that session | +2.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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