Shares of the company gained as much as 3.5% to US$257.50 ($332.09) on Tuesday in New York, reaching a record high. They had been up 7.3% this year through Monday’s close.
Broadcom began shipping a new version of its data centre switch chips that can boost the efficiency of AI accelerators, aiming to take a bigger role in the booming market for artificial intelligence (AI) computing.
The company started delivering the Tomahawk 6 switch chips to customers over the weekend, and the product will be broadly available in July, said Ram Velaga, senior vice president and general manager of Broadcom’s Core Switching Group. Switches, a central piece of networking equipment, allow computers to communicate with one another. A single new Tomahawk 6 can do the work of six of the previous versions, Broadcom said.
