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VisitOpenAI in Talks with Broadcom ($AVGO) to Develop New AI Chip, Shares Up 1%
Jul 18, 2024, 07:27 PM
OpenAI is reportedly in talks with Broadcom ($AVGO) to develop a new AI chip, according to The Information. This move is part of OpenAI's strategy to enhance its AI capabilities with custom chips. Initially, CEO Sam Altman had planned to start a separate company for this purpose, but the efforts are now being integrated within OpenAI. This development could pose a potential threat to Nvidia, as OpenAI has also hired former members of a Google AI chip unit. Following the report, Broadcom shares saw a 1% increase in trading volume.
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Markets
No • 50%
Yes • 50%
Stock market data, financial news sources
No • 50%
Yes • 50%
Public announcements from OpenAI or Broadcom, credible news sources
Yes • 50%
No • 50%
Public announcements from OpenAI or Broadcom, credible news sources
Nvidia's market cap increases by more than 10% • 25%
Nvidia's market cap decreases by less than 10% • 25%
Nvidia's market cap decreases by more than 10% • 25%
Nvidia's market cap remains stable (±5%) • 25%
Market cap data, financial news sources
Broadcom becomes a top 3 player in AI chips • 25%
Broadcom does not enter the top 10 in AI chips • 25%
Broadcom becomes a top 10 player in AI chips • 25%
Broadcom becomes a top 5 player in AI chips • 25%
Industry reports, market analysis publications
Even mix of former Google, Broadcom, and new hires • 25%
Majority former Google AI chip unit members • 25%
Majority Broadcom engineers • 25%
Majority new hires from other companies • 25%
Public announcements from OpenAI, employee data