American semiconductor giant Broadcom (NASDAQ: AVGO) has received a major vote of confidence from Wall Street after earning an upgrade from HSBC. "We believe that hyperscaler capex [capital expenditures] will drive ASIC growth as almost all big hyperscalers look to invest in their custom silicon program," Lee said. According to Lee, the share of capital expenditure allocated to ASICs is expected to rise from just 2% in FY23 to 14% by FY27, highlighting a broader industry shift toward AI-accelerated infrastr ...