Broadcom surges on OpenAI custom AI chip deal

** Shares of Broadcom AVGO gain 11.5% to $362 premarket

** OpenAI and Broadcom announce deal to deploy 10 gigawatts of AI accelerators designed by the ChatGPT parent

** Broadcom to deploy racks of AI accelerator and network systems targeted to start in the second half of 2026, to complete by end of 2029, companies say

** AVGO last month unveiled a blockbuster $10 billion AI chip order from a new unnamed customer

** Reuters reported exclusively last year that OpenAI was working with Broadcom and TSMC 2330 to build its first in-house chip

** Up to last close, AVGO had risen ~40% so far this year compared with a ~29% rise in the Philadelphia SE Semiconductor Index SOX