Morgan Stanley revamps Broadcom’s price target with a twist
Broadcom (AVGO) just signed on to perhaps the biggest AI infrastructure push in recent memory. On October 13, OpenAI and Broadcom announced a mind-boggling new deal that has them co-developing and co-deploying a 10-gigawatt fleet of custom accelerator racks, starting in late 2026 and continuing through 2029. That’s a far from standard chip order. The deal involves long-haul infrastructure, including custom chips, Ethernet fabrics, and power-hungry racks tailor-made for handling AI compute. Broadcom’s ro ...