ARK Investment purchased 24.2K shares of Broadcom ahead of its March 4 earnings report, following Alphabet’s massive $185 billion AI spending forecast. The stock closed at $333.51 (+0.29%) as the company benefits from surging demand in the custom accelerator market.
- Investor sentiment is supported by a staggering $162 billion consolidated backlog.
- AI-specific revenue is projected to double year-over-year to reach $8.2 billion this quarter.