Stock Market Today, March 5: Broadcom Rallies as as AI Chip Demand Strengthens Revenue Outlook

2026-03-05 18:31:09 ET

Broadcom (NASDAQ:AVGO) , a provider of semiconductor devices and infrastructure software,  closed Thursday at $332.6, up 4.75%. The stock moved higher after premarket earnings and guidance highlighted accelerating AI-driven revenue growth. Investors are now assessing whether demand for AI infrastructure can support Broadcom’s long-term sales targets.

The company’s trading volume reached 50.1 million shares, which is about 62% above compared with its three-month average of 31 million shares. Broadcom went public in 2009 and has grown 20431% since its IPO.

S&P 500 (SNPINDEX:^GSPC) slipped 0.56% to 6,830, while the Nasdaq Composite (NASDAQINDEX:^IXIC) eased 0.26% to 22,749. Within semiconductors, industry peers Nvidia (NASDAQ:NVDA) closed at $183.34 (+0.16%) and Qualcomm (NASDAQ:QCOM) finished at $137 (-1.80%), reflecting mixed reactions to evolving AI and data center demand.

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