5 AI Stocks in Focus on Wall Street: Tesla, Meta, and More

Below, we take a look at 5 AI Stocks in Focus on Wall Street. For a deeper dive into the full list, check out 12 AI Stocks in Focus on Wall Street. 

5. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 202

On April 14, Broadcom together with Meta announced a multi-year, multi-generation strategic partnership to support Meta’s artificial intelligence compute infrastructure through at least 2029. This partnership news has landed the stock fifth place on our list of AI Stocks in Focus on Wall Street.

Broadcom will co-develop multiple generations of Meta’s next-generation MTIA (Meta Training and Inference Accelerator) chips. These chips help power AI across all of Meta’s apps and services.

The initial commitment surpasses 1 gigawatt and marks the first phase of a multi-gigawatt rollout planned over the next three years.

Broadcom will deliver its industry-leading Ethernet networking solutions, which include high-radix Ethernet switches, Optical Connectivity products, PCIe switches, and high-speed SerDes capabilities.

As part of this expanded relationship, Broadcom CEO Hock Tan will be stepping down from Meta’s board to switch into an advisor role for Meta on silicon strategy. He will be offering guidance on Meta’s custom silicon roadmap, helping mold the future of their infrastructure investments.

We are pleased to expand our strategic collaboration with Meta as they pioneer the next frontier of artificial intelligence. This initial MTIA deployment is just the beginning of a sustained, multi-generation roadmap to serve the trajectory of massive growth over the next few years highlighting Broadcom’s unmatched leadership in AI networking and the power of our foundational XPU custom accelerator platform.

-Hock Tan, President and CEO, Broadcom.

Broadcom Inc. (NASDAQ:AVGO) is a technology company uniquely positioned for the AI revolution, owing to its custom chip offerings and networking assets.