Broadcom Inc. shares surged 5% to $389.12 in New York trading on Wednesday, driven by reports that its partnership with Apple Inc. is valued at more than $30 billion.
The deal represents one of the largest semiconductor supply agreements in recent years, underscoring the strategic importance of custom silicon in Apple's product roadmap.
The agreement, which spans multiple years, involves the design and manufacture of over 15 billion chips in the United States.
The agreement, which spans multiple years, involves the design and manufacture of over 15 billion chips in the United States.
The components focus on connectivity and communication network technologies, critical for Apple's ecosystem of devices.
This domestic manufacturing commitment aligns with broader industry trends toward supply chain resilience and onshoring of advanced semiconductor production.
Investors reacted positively to the scale of the contract, viewing it as a significant revenue anchor for Broadcom.