Broadcom Shares Surge 6% as Apple Extends Chip Partnership Through 2031 to Power AI Push

Broadcom shares surge over 6% after Apple extends their chip partnership through 2031, with Broadcom set to supply custom AI-focused ASIC chips across multiple Apple product generations, including advanced AI servers planned for 2027.

• Broadcom and Apple are extending their partnership through 2031, with Broadcom set to supply new custom ASIC chips that will appear across multiple generations of Apple products.
• The expanded deal focuses on application-specific integrated circuit silicon, which is increasingly critical for AI processing, as Apple pushes forward with plans to deploy advanced AI servers as early as 2027.
• Broadcom shares surge as much as 6.3% following the announcement, building on a roughly 38% gain over the past year driven by surging AI chip demand, with the company also maintaining chip partnerships with Alphabet and Meta.