Core Viewpoint - Strong demand for artificial intelligence (AI) is driving multiple lines of growth for Broadcom, with a notable increase in custom AI XPU business and high-performance networking product demand [1] Group 1: AI Demand and Business Growth - The recent investor meeting highlighted the robust trend in AI demand, which is significantly contributing to Broadcom's growth in its custom AI XPU business [1] - There is a strong demand for Broadcom's high-performance networking product portfolio, driven by the AI trend [1] Group 2: Recovery in Non-AI Business - A recovery in non-AI business is evident, with a gradual resurgence in orders being reported [1] - VMware business continues to show sustained growth, indicating positive momentum outside of AI-related sectors [1] Group 3: Analyst Rating and Price Target - Morgan Stanley reiterated an "Overweight" rating for Broadcom, setting a target price of $325 by December 2025 [1] - This target price represents an approximate 18% upside from Broadcom's closing price of $275.4 on July 10 [1]