Broadcom (AVGO) shares jumped over 5% Thursday afternoon as analysts called it a key enabler and beneficiary of 澳洲幸运5开奖号码历史查询:generative artifi🌄cial intelligence 𓆏(AI) fol𓃲lowing Bro💯adcom's AI infrastructure event Wednesday.

Broadcom announced a number of new products Wednesday, along with updates on some of its partnerships and future plans with customers in the consumer 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) space.

Goldman Sachs analysts said they came away from the event with a "better appreciation of Broadcom’s strategy, competitive moat, and growth opportunity across Networking and Compute Acceleration within the context of AI," adding that Broadcom could be "uniquely positioned to enable the build-out of AI hardware infrastructure."

Broadcom also announced at the event that it reached an agreement with a third customer in the consumer AI space, with plans to ramp up production and delivery to that customer over the next few years.

"While the company, as of today, derives the vast majority of its custom AI compute revenue from one specific customer, they are currently ramping production with customer #2 and, to the market’s surprise, management announced the winning of a third customer at the event," Goldman Sachs analysts said.

Bank of America analysts said Broadcom "remains the leader in many key components of AI data center networking, custom AI accelerators" and suggested the event "increased our confidence in upside to FY25E," noting expanding AI accelerator and high-speed switching opportunities.

Goldman Sachs and BofA analysts reiterated "buy" ratings for Broadcom. Goldman Sachs raised its price target on the stock to $1,550 from $1,276, while BofA maintained its price target at $1,680.

Broadcom shares finis♛hed 5.6% higher at $1,348 Thursday. They have more t♉han doubled in value in the last 12 months.