Apple (AAPL) just wrote Broadcom (AVGO) a gigantic check, and it says a lot about where both companies think the next decade of technology is headed. The two companies announced a new multiyear agreement worth more than $30 billion, according to a company statement.
It calls for Broadcom to design and build custom chips and wireless components for Apple products, with more than 15 billion American-made chips expected to come out of the deal. For a company that has spent the past three years benefiting from the AI megatrend, this Apple news is a reminder that Broadcom still has a massive, profitable business making legacy parts for iPhones and other devices.
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