TLDR Broadcom stock gained 5.54% on Thursday, closing at $364.36. Thursday’s trading volume reached approximately 43.62 million shares, exceeding its 20-day average. Nvidia confirmed Jensen H
Broadcom (AVGO) shares rose 5.54% on Thursday, November 12, closing at $364.36. The advance followed Nvidia’s leadership shake-up and came with unusually heavy trading activity.
AVGO gained $19.14 from Wednesday’s $345.22 close, according to Yahoo Finance’s historical prices. Shares opened at $356.80 and reached an intraday high of $369.82.
Approximately 43.62 million shares traded, compared with a 20-day average of 26.75 million. That represented around 1.6 times normal 20-day turnover, according to JournalArta’s November 13 analysis.
The stock also gained 24.98% over five trading sessions ending Thursday. Even after that rally, shares remained below their reported $495 52-week high. However, higher volume does not independently establish a lasting rally or its underlying cause.
Nvidia’s November 12 SEC filing confirms its board accepted Jensen Huang’s resignation on November 11. The company appointed chief financial officer Colette Kress as interim chief executive. Its board also began searching for a permanent replacement.
Nvidia shares closed 4.3% lower Thursday, according to Reuters. Meanwhile, market reports described Broadcom as a potential beneficiary of interest in alternative AI processors.
Broadcom develops custom AI accelerators and networking products for demanding computing workloads. These products differ from Nvidia’s graphics processors, although customers can deploy both technologies.
The leadership change offers context for Thursday’s trading, not confirmation of newly awarded Broadcom contracts. Earlier coverage tracked the divergence between Nvidia and rival chip stocks before Thursday’s closing bell.
Broadcom’s September financial release reported third-quarter revenue of $29.6 billion, up 86% annually. AI semiconductor revenue reached $16.7 billion, representing 221% year-over-year growth.
AI semiconductors therefore contributed about 56% of that quarter’s companywide revenue.
Chief executive Hock Tan cited demand for custom AI accelerators and networking infrastructure. Management projected $21.7 billion in fourth-quarter AI semiconductor revenue, a forecast rather than a reported result.
Separately, Broadcom’s quarterly filing described financing arrangements supporting customers’ large AI infrastructure deployments. It also acknowledged that deploying such infrastructure requires substantial customer capital.
That disclosure provides context for the difference between potential demand and realized sales. Previous reporting also examined developments involving Broadcom, Anthropic, and Google’s AI-chip ecosystem.
Broadcom announced November 9 that it will publish fourth-quarter and full-year results December 9. Its scheduled investor call begins at 5 p.m. Eastern.
The company’s November 9 investor notice contained no updated AI revenue figures.
The results will show whether actual AI semiconductor revenue meets management’s earlier projection. Until then, Thursday’s share-price gain indicates market interest, not independently verified additional customer orders.
The post Broadcom (AVGO) Shares Jump 5.54% After Nvidia CEO Exit appeared first on Blockonomi.
