The deal capped a flurry of pacts between OpenAI and the world’s biggest AI chip suppliers, including Nvidia and Advanced Micro Devices. All of them involve OpenAI spending billions of dollars on data centers stocked with hundreds of thousands of chips. Broadcom’s stock rose 9.9% Monday following news of its deal.

Broadcom (NASDAQ: AVGO) is playing a key role in supplying data centers with custom chips and networking products. Strong revenue and free-cash-flow growth have pushed the stock to new highs this year, with shares up 54% year to date through market close Oct. 13.

Broadcom is launching a new networking chip on Tuesday that will help companies build artificial intelligence computing systems by stringing together hundreds of thousands of chips that crunch data, deepening its rivalry with Nvidia .

BlackRock and Wells Fargo also surpassed analyst expectations, while Citi posted stronger revenue than Wall Street projected. Don't miss BlackRock CEO Larry Fink on CNBC's "Squawk on the Street" at 9:30 a.m. ET.

The 800G Thor Ultra NIC implements Ultra Ethernet Consortium specifications and introduces hardware-accelerated capabilities to modernize RDMA.

As the marketplace for semiconductors grows beyond Nvidia, Broadcom—a major competitor—should see its stock price grow significantly.

The AI research lab announced Monday it formed a partnership with semiconductor company Broadcom for 10 gigawatts worth of custom AI accelerator hardware. These AI accelerator racks will be deployed to OpenAI data centers and partner data centers starting in 2026 and running through 2029.

Broadcom AI innovation with OpenAI partnership and new networking chip Thor Ultra competes against Nvidia chips and AMD accelerators and network innovation.