Broadcom Shares Slip Over 2% Amid AI Chip Competition Concerns

Broadcom's stock fell more than 2% on Thursday after a report that AI firm Anthropic is developing its own chips and discussing manufacturing with Samsung, raising investor worries about heightened competition in the AI processor market.

Meanwhile, Apollon Wealth Management boosted its Broadcom holding by 6.1% in the first quarter, bringing its stake to 287,546 shares worth about $89 million, underscoring continued institutional interest in the semiconductor maker.