2024-08-07 04:25:00 ET
Lumen Technologies (NYSE: LUMN) and Broadcom (NASDAQ: AVGO) were both driven higher by the buying frenzy in artificial intelligence (AI) stocks. Over the past 12 months, Lumen's stock surged more than 70% as Broadcom's stock rallied over 60%.
Lumen, the telecom company formerly known as CenturyLink, impressed the bulls by signing a new AI infrastructure deal with Microsoft and a fiber supply deal with Corning . Broadcom dazzled the market with its soaring sales of its AI-oriented networking chips. So which of these high-flying AI stocks is a better buy right now?
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Better AI Stock: Lumen Technologies vs. Broadcom