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Apr 22, 2026 12:01 PM

What's Going On With Broadcom Stock Wednesday?

Broadcom Inc. (NASDAQ:AVGO) shares are trading higher on Wednesday as chip and mega-cap tech names stay in favor during a risk-on session. The Nasdaq is up 1.18% while the S&P 500 has gained 0.79%, and Technology (XLK) is leading sectors higher at +1.28%.

Latest Developments

In an SEC filing dated April 6, 2026, Broadcom disclosed an expanded long-term partnership with Alphabet Inc. (NASDAQ:GOOGL) Google to support the tech giant's future AI infrastructure.

Under the agreement, Broadcom will design and supply custom tensor processing units (TPUs) for Google's next-generation AI accelerators. It will also provide networking and related components for Google's AI data racks.

The partnership extends through 2031, reflecting rising demand for specialized AI hardware and deeper collaboration between chipmakers and hyperscale cloud providers.

Google Doubles Down On Custom Silicon

Momentum in Broadcom shares also followed new chip announcements from Google, highlighting its push into custom AI silicon—an area where Broadcom plays a central role.

Google is splitting its latest TPUs into separate processors for training and inference, aiming to improve efficiency and reduce ...