Broadcom secured multi-year agreements to supply Google with custom Tensor Processing Units (TPUs) and networking components through 2031. The company also expanded its partnership with Anthropic to provide significant AI compute capacity starting in 2027.
These announcements triggered a significant rally in Broadcom stock earlier in the week. Seaport Global downgraded the stock from Buy to Hold on April 9, 2026.
Analysts stated that current valuations fully reflect the gains from these partnerships. The firm expects limited near-term upside despite a positive long-term outlook.