Buy AVGO by Dec 2, 2026.

**1. This is now an XPU company with an Ethernet side business.** Custom AI chips made up 73% of AI revenue and grew north of 3x year-on-year, while AI networking grew over 2.5x. Broadcom guided both to roughly triple again in Q4. Everything else — legacy semis, software, VMware — is basically a stable annuity bolted onto a fast-compounding AI core. **2.**Google's locked into a multi-year, multi-tens-of-billions annual TPU commitment, with Ironwood ramping and a new inference-focused chip (TPU v8i) …