Why Broadcom (AVGO) Stock Is Still Wall Street’s Top Chip Pick Over Marvell
TLDR
- Broadcom is in talks with Blackstone and Apollo to raise over $60 billion in debt to fund AI infrastructure projects linked to Anthropic.
- Q2 fiscal 2026 revenue hit $22.2 billion, up 48% year-over-year, with AI semiconductor revenue jumping 143% to $10.8 billion.
- Broadcom and OpenAI’s Jalapeño chip delivered 1.5 to 1.9 times more AI work per watt than rival systems.
- Google expanded its chip partnership with Marvell, which caused AVGO to drop over 5%, while MRVL rose nearly 8%.
- Wall Street maintains a Strong Buy consensus on AVGO with an average price target of around $510, implying roughly 43% upside.
Broadcom (AVGO) is trading at around $354 per share, up roughly 2% year-to-date, as two major developments pull investor attention in opposite directions.
On one hand, reports surfaced that Broadcom is in talks with Blackstone (BX) and Apollo Global Management (APO) to raise more than $60 billion in debt. The financing is tied to AI infrastructure projects linked to Anthropic. The deal could include a $30 billion junior debt tranche alongside a senior-secured portion.
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