Why Broadcom Stock Slumped Today

On Thursday, a media report that two notable companies were teaming up to develop next-generation microprocessors raised concerns about 's (NASDAQ: AVGO) future. This, in turn, inspired a cautious sell-off of the chipmaker's stock. By the end of that trading session, the company's shares had declined by more than 2%.

That morning, popular tech industry news site The Information published an article stating that artificial intelligence (AI) company Anthropic has started developing its own AI chips. It has also engaged in talks with Korea-based electronics giant Samsung about manufacturing them.

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Source Fool.com