One of the world’s most powerful chipmakers is currently on a record-breaking streak that is changing up the map of the artificial intelligence industry. On Thursday, Broadcom (AVGO) pushed toward a record high as its stock extended a winning streak of eight consecutive days. This momentum has fueled a 28% jump in April alone, marking the company’s third-best monthly performance since it went public in 2009.
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AI Infrastructure Demands Spark a $1.3 Trillion Market Forecast
The explosion of generative AI is forcing analysts to tear up their old playbooks as the scale of new data centers reaches unprecedented levels.
BofA Securities (BAC) recently issued a massive upgrade to its global outlook, hiking its 2026 semiconductor revenue target to $1.3 trillion. This is a $300 billion leap from estimates made just four months ago. Analyst Vivek Arya now models annual growth of around 25% in the non-memory chip market for 2026, up from a previous guess of 22%.
He identifies Broadcom as a primary driver of this milestone, noting that the demand for AI data center systems is growing far faster than the broader economy. This surge is being supported by a recovery in the sector following a brief selloff tied to geopolitical tensions in the Middle East, with the VanEck Semiconductor ETF (SMH) jumping 19% this month.
Broadcom’s Multi-Gigawatt Partnerships Secure a 7-Million Unit TPU Future
Broadcom is locking in massive, multi-year contracts with the biggest names in tech to build the brains of tomorrow’s AI.
Just this month, Broadcom disclosed major new deals with Google (GOOGL), Meta Platforms (META), and Anthropic.
In fact, the Anthropic agreement alone covers 3.5 gigawatts of next-generation compute power. Following these disclosures, UBS (UBS) lifted its medium-term estimates, projecting the company will ship 7 million TPU accelerators in 2027, up from its earlier forecast of 6 million. This move is designed to power Anthropic’s frontier Claude models and Meta’s massive social platforms. UBS reiterated a Buy rating and a $475 price target, arguing that these deals prove Broadcom is now deeply embedded in the “billion-dollar revenue narrative” of AI.
Is Broadcom Stock a Good Buy?
Turning to TipRanks, Broadcom has a Hold consensus rating among Wall Street analysts as of April 2026. This rating is based on 27 Buy and four Hold ratings issued within the last three months. The average 12-month AVGO stock price target is $465.55, pointing to a 17% upside from the current price.
