Broadcom, IBD Stock Of The Day, Gains Custom AI Chip Business

Group 1 - The stock market has reached record highs following a cooler Consumer Price Index (CPI) report, indicating positive investor sentiment [1] - Broadcom (AVGO) is highlighted with a stock price of $352.95, showing an increase of $8.66 or 2.51%, and is noted for breaking a downtrend with a cup-with-handle pattern [1] - Google Cloud is gaining momentum with its recent deal with Anthropic, which is expected to enhance its cloud computing business ahead of Q3 earnings [2][4] Group 2 - The report emphasizes the importance of upcoming earnings from major tech companies, referred to as the 'Mag 5' (Apple, Amazon, Google, Meta, and Microsoft), which are anticipated to impact market trends [4] - Google stock has experienced fluctuations, recently falling amid competition from OpenAI's web browser and potential advertising developments with ChatGPT [4] - The AI sector is noted for its significant growth, with companies like IREN seeing a surge of over 400% due to advancements in AI technology [4]