Broadcom Tops AMD as Best AI Chip Play After Nvidia

Following a sharp June 4 pullback triggered by Broadcom’s results, AMD shares have stabilized around $465 as investors weigh the two names as Nvidia’s main AI rivals. The stock had surged 45.6% in May on Q1 data-center revenue of $5.8 billion (+57% YoY) and reached a record $542.52 on June 3, pushing market value toward $900 billion. Despite the recent 7.9% intraday drop and rich 70x forward P/E, analysts continue to highlight AMD’s agentic-AI CPU momentum while noting Broadcom’s $100 billion long-term AI sales target gives it the valuation edge.