Broadcom Inc. (NASDAQ:AVGO) is a top performer among Buzzing AI Stocks on Wall Street. KeyBanc raised the price target to $400.00, maintaining an Overweight rating. The company secured a new $10 billion customer for custom artificial intelligence chips, known as XPUs, causing shares to soar.

Broadcom CEO Hock Tan revealed a fourth large customer has placed orders for $10 billion in XPUs, characterizing them as a qualified customer. Analysts at Keybanc believe the new customer is AI startup OpenAI. Broadcom’s strong AI semi revenues are expected to continue growing.

Broadcom’s custom chip offerings and networking assets position it uniquely in the AI revolution. While AVGO is a potential investment, some AI stocks may offer greater upside potential with less downside risk. For more on undervalued AI stocks and trends, check out the free report on the best short-term AI stock.

Read more at Yahoo Finance: Broadcom (AVGO)’s $10B AI Customer Could Be OpenAI, Analysts Suggest