TECH - Broadcom Sees Boost from Tiger Global's Entry Signaling Confidence in AI Semiconductor Market | Benzinga
Tiger Global expanded its investment portfolio by acquiring its first stake in the California-based semiconductor manufacturer Broadcom Inc (NASDAQ:AVGO) in the final quarter of 2023.
Simultaneously, Tiger Global aggressively expanded its involvement in the semiconductor industry. Notably, it amplified its holdings in Taiwan Semiconductor Manufacturing Co (NYSE:TSM) and Lam Research Corp (NASDAQ:LRCX) by 47.69% and 8.9%, respectively, MarketWatch cites regulatory filings.
The prominent New York hedge fund initiated by American billionaire Chase Coleman III in 2001 strategically adjusted its investment portfolio, significantly impacting its positions in significant technology and semiconductor firms.
Analysts hailed Broadcom as among the biggest beneficiaries of the artificial intelligence frenzy, apart from Nvidia Corp (NASDAQ:NVDA). The stock gained 50% in the last six months. The analysts noted Broadcom as a critical global AI semiconductor ...