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Most U.S. stocks fell, but hopes for coming cuts to interest rates and Wall Street’s continued frenzy around artificial-intelligence technology nudged indexes to more record highs. The S&P 500 rose
The company will carry out a 10-for-1 forward stock split, in a bid to make its shares more affordable for retail investors. Broadcom manufactures advanced networking chips that help move around vast amount of data used by AI applications such as OpenAI's ChatGPT, making it one of the beneficiaries of businesses heavily investing in the booming technology. Broadcom recorded revenue of $3.1 billion from AI products during the second quarter.
Broadcom shares remain in the spotlight Monday after the chipmaker logged gains following its AI investor day last week. Monitor this key chart level.
Chipmaker Broadcom has put on hold a sales process for its security software business Carbon Black, Bloomberg News reported on Monday, citing people familiar with the matter.
The VMware deal, which faced several regulatory hurdles, was among the biggest globally when it was announced in May 2022. Broadcom closed the acquisition more than a year later, in November 2023, after receiving regulatory approval in China.