Broadcom rises as it unveils new chip to bring AI networks together
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Broadcom (NASDAQ:AVGO) shares rose on Tuesday as the chipmaker announced a new chip to bring artificial intelligence networks together.
The chip, known as Jericho3-AI, is capable of bringing together 32,000 GPUs, each with 800 Gbps, in a single cluster. Broadcom (AVGO) also said that the Jerich3-AI allows for a 10% shorter completion timeframe than alternative networking solutions, allowing the AI accelerators to run 10% more efficiently.

"The benchmark for AI networking is reducing the time and effort it takes to complete the training and inference of large-scale AI models," said Ram Velaga, senior vice president and general manager, Core Switching Group, Broadcom, in a statement. "Jericho3-AI delivers significant reduction in job completion time compared to any other alternative in the market."
San Diego-based Broadcom (AVGO) added that Jericho3-AI is now available to "qualified customers," though it did not disclose pricing.
Earlier this month, investment firm Benchmark started coverage on Broadcom (AVGO) with a buy rating, stating it sees roughly 25% upside from current levels.