Broadcom's stock price has skyrocketed in 2024, fueled by the AI boom, while Intel has suffered its worst year since going public. The stark contrast highlights the impact of key decisions in the fast-paced tech industry.
Broadcom 's stock price more than doubled in 2024, marking its best year ever after the company's strong earnings report. It was a significant year for silicon in Silicon Valley, but a challenging one for the company closely associated with the area's name. Intel , co-founded by industry pioneers Gordon Moore and Robert Noyce and legendary investor Arthur Rock, experienced its worst year since going public in 1971, losing 61% of its value.
The chip conglomerate, run by CEO Hock Tan and headquartered in Palo Alto, California, about 15 miles from Intel's Santa Clara campus, saw its stock price soar 111% in 2024 as of Monday's close. The driving force behind the diverging fortunes was artificial intelligence. Broadcom capitalized on the AI boom while Intel largely missed it. The changing landscapes of these two chipmakers highlight the transient nature of leadership in the tech industry and how key decisions can result in market cap shifts worth hundreds of billions — or even trillions — of dollars. Broadcom supplies critical components for the rapidly expanding AI industry, powering data centers and cloud computing platforms. It also manufactures essential networking equipment required to connect thousands of AI chips within large server clusters. Within AI, Broadcom's accelerator chips, known as XPUs, have become a crucial part of the ecosystem. While having a lower profile compared to Nvidia, Broadcom's XPUs have proven to be essential for the AI infrastructure. Intel, the dominant U.S. chipmaker for decades, has been largely excluded from the AI race. Its server chips lag significantly behind Nvidia's, and the company has also lost market share to its long-time rival AMD. Broadcom's current valuation stands at approximately $1.1 trillion, making it the eighth most valuable U.S. company
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