'It's End of Year Jitters': Allspring's Patel Not Worried About AI Stocks

Broadcom's shares have significantly declined following a disappointing sales outlook that failed to meet investor expectations, mirroring a similar trend seen with Oracle's recent struggles in the AI sector. This downturn comes despite Broadcom reporting record revenue growth, highlighting investor concerns about future profitability.

The UK economy faces potential contraction as growth declines ahead of Chancellor Rachel Reeves' tax-raising budget, prompting discussions on the role of the tech sector in economic recovery. British Business Bank CEO Louis Taylor emphasized the strength of fintech and AI in the UK during a conversation with Bloomberg's Ed Ludlow and Caroline Hyde.

Broadcom's stock experienced its most significant decline in ten months after the company reported a sales outlook that fell short of investor expectations, raising concerns about its competitiveness in the AI chip market against rivals like Nvidia.

President Donald Trump signed an executive order aimed at preventing state-level regulations on artificial intelligence (AI) through legal actions and funding cuts, a move that has been welcomed by technology industry leaders advocating for a unified regulatory approach. David Sacks, the White House AI and Crypto Czar, discussed the implications of this order on Bloomberg Tech.

Oracle's recent $300 billion investment in artificial intelligence, spearheaded by Larry Ellison, has become a focal point in Silicon Valley's current tech boom, raising questions about its sustainability and potential as a bubble indicator.

AI lab Anthropic has placed a significant order totaling $21 billion with Broadcom for Google's Tensor Processing Units (TPUs), which are essential for powering advanced AI models. This order includes a $10 billion acquisition of Ironwood TPU racks in the third quarter of 2025, followed by an additional $11 billion order in the fourth quarter.

Broadcom has disclosed that Anthropic placed a substantial order worth $21 billion for Google's Tensor Processing Units (TPUs), which are critical for powering AI models. This order includes a $10 billion acquisition of Ironwood TPU racks in Q3 and an additional $11 billion in Q4, reflecting Anthropic's commitment to enhancing its AI capabilities.

Broadcom CEO Hock Tan announced that Anthropic placed a $10 billion order for Google's Ironwood TPU racks in the third quarter of 2025, followed by an additional $11 billion order in the fourth quarter. This revelation came during a September earnings call, highlighting Anthropic's significant investment in advanced AI infrastructure.