Broadcom Steadies as ARK Buys Dip; Intel, AMD Slip After Google-Marvell Chip Deal

Published Aug 20, 01:32 PM UTC

Broadcom shares stabilized in early Thursday trading after a Wednesday selloff triggered by Google's expanded custom-chip partnership with Marvell Technology, which included warrants to purchase up to $12.2 billion in Marvell stock. The iShares Semiconductor ETF remained flat, indicating the selloff was Broadcom-specific rather than sector-wide. Intel and AMD each fell 1% in sympathy. ARK Invest purchased 55,548 Broadcom shares on the dip, viewing the pullback as an entry point. Despite the deal, Broadcom's TPU commitments with Google remain intact, and CEO Hock Tan reiterated strong AI revenue guidance of $16 billion for Q3 FY2026, up over 200% year-on-year. The article notes Broadcom's year-to-date gain of 5% trails Marvell's 180% surge.