Skip to navigationSkip to main contentSkip to right columnTalha QureshiMon, June 29, 2026 at 11:58 AM GMT+2 1 min readBroadcom Inc. (NASDAQ:AVGO) is one of the High Growth Semiconductor Stocks to Buy Now. On June 24, Reuters reported that OpenAI, in partnership with Broadcom Inc. (NASDAQ:AVGO), released its first custom AI chip, called the Jalapeño. This marks an important milestone for both companies.The report noted that this chip has been designed specifically for inference, which is a process by which AI models process data and respond to users. Broadcom's CEO Hock Tan told Reuters the chip is competitive with Nvidia's Blackwell GPUs and Google's tensor processing units.As per Reuters, OpenAI plans to deploy Jalapeño by the end of this year, with the chip already running in labs at target power and performance levels using its GPT-5.3-Codex-Spark model. Management noted that the design took roughly nine months, aided in part by AI-assisted engineering, before being sent to TSMC for manufacturing. Celestica will build the server systems that house the chips.Broadcom Inc. (NASDAQ:AVGO) is a technology company that specializes in semiconductor devices (through the Semiconductor Solutions segment) and infrastructure software solutions (through the Infrastructure Software segment).While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.READ NEXT: 10 Good Stocks to Invest in Now and 10 Most Undervalued US Stocks According to Hedge Funds.Disclosure: None. Follow Insider Monkey on Google News.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info