Broadcom Follows Oracle in Letting Down AI-Focused Investors
Broadcom Inc., a chip company vying with Nvidia Corp. for AI computing revenue, suffered the worst stock decline in more than 10 months after its sales outlook for the market failed to meet investors’ lofty expectations. The shares slid 11% in New York trading Friday, their biggest single-day drop since late January, following unsettling commentary from Chief Executive Officer Hock Tan the day before on a conference call with analysts. He said the company has a backlog of $73 billion in AI product orders ...