Broadcom (AVGO) stock jumped 6% in midday trading on Tuesday, April 7, 2026. This rally defied a broader technology sector downturn that saw the Nasdaq decline over 1%. Landmark long-term artificial intelligence supply agreements with Google and Anthropic fueled the price increase.
The multi-year deals provide Broadcom with durable revenue visibility through 2031. The agreements cover custom-designed AI chips, including Google’s Tensor Processing Units (TPUs). These contracts reinforce the company’s critical role in the global AI infrastructure buildout.
The announcement provided a clear catalyst for investors seeking concrete AI growth. Broadcom shares rose while macroeconomic and geopolitical concerns pressured most other technology stocks.