Broadcom is a networking giant, selling thousands of products used in the areas of data center networking, home connectivity, smartphones, and more. But in recent times, AI has emerged as a key growth area for the company, and Broadcom even said in its latest earnings report that AI revenue continues to "grow strongly."

The selloff follows an earnings report by chip manufacturing equipment supplier ASML which indicated weaker-than-expected sales guidance for 2025, raising concerns

The market for artificial intelligence (AI) accelerators is currently dominated by Nvidia (NASDAQ: NVDA), which has built a technology lead over rivals and controls an estimated 8

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