Referenced Symbols

AVGO

+24.43%

SOX

+3.36%

NVDA

-2.25%

AMD

-2.83%

MRVL

+10.79%

META

-1.66%

GOOGL

-1.11%

GOOG

-1.16%

ANET

+5.14%

Broadcom Inc.’s commentary about the potential of artificial intelligence over the next three years had investors bidding up other stocks across the technology sector — but not shares of Nvidia Corp. or Advanced Micro Devices Inc.

While Broadcom shares

AVGO

+24.43%

had a record one-day rally, rising more than 24%, and the PHLX Semiconductor Index

SOX

+3.36%

gained 3.4%, shares of Nvidia

NVDA

-2.25%

and AMD

AMD

-2.83%

were both down and were the two biggest laggards in that chip index. Nvidia’s stock fell 2.3% and AMD’s lost 2.8%.

Broadcom on Thursday forecast a serviceable addressable market of $60 billion to $90 billion for fiscal 2027, based on its current base of hyperscale customers. That projection had Marvell Technology Inc.

MRVL

+10.79%

investors optimistic about an ability to capitalize as well, since Marvell also makes application-specific integrated circuits.