Broadcom Slides After AI Chip Forecast Underwhelms Investors

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Matthew Bloxham, Bloomberg Intelligence Senior and Tech Analyst, discusses top tech stories. Broadcom Inc. shares declined after a two-year forecast for AI chip sales failed to impress investors, a sign it’s still in the early stages of challenging Nvidia Corp.’
Snowflake Inc. shares jumped after the company raised its outlook for annual sales and touted rapid adoption of its AI-assisted coding tool.
Nvidia has agreed to acquire Hugging Face for $12.93 billion, according to a statement on its website.

-Woo Jin Ho, Bloomberg Intelligence Senior Hardware and Networking Analyst, discusses earnings from Hewlett Packard Enterprise. Hewlett Packard Enterprise Co. suffered its worst stock decline in 17 months after sales growth failed to meet investors' expectations. Chief Executive Officer Antonio Neri said supply constraints continue to affect the company's ability to fulfill increased customer demand. HPE boosted its revenue outlook for the current fiscal year and next, with revenue expected to jump 34% to 37% in the year ending in October.

-Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses earnings from Campbell’s company. Campbell’s Co. shares fell after the company posted its fourth straight quarterly sales decline and cut its dividend. The company unveiled a cost-savings plan that calls for $500 million in savings by fiscal 2030 to preserve margins dented by rising supply chain and tariff costs. Campbell’s expects sales to fall between 2% and 4% in fiscal 2027 and earnings per share to slide between 17% and 24% this fiscal year.

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