Polen Capital, an investment management company, released its “Polen Focus Growth Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The equity market continued its strong performance in the third quarter of 2025,

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.

Citi raised the price target on Broadcom's (NASDAQ:AVGO) stock to $415 from $350 after the chipmaker and Microsoft (NASDAQ:MSFT)-backed OpenAI (OPENAI) announced a collaboration for 10 gigawatts of custom AI accelerators on Monday.

What Happened? Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO) jumped 10.3% in the afternoon session after the company announced a strategic, multi-year collaboration with OpenAI to co-develop and deploy custom artificial intelligence (AI) accelerators.

Broadcom unveils Wi-Fi 8 silicon solutions for AI-driven networks, offering faster speeds, extended range, and multi-device optimization.

Shares of Broadcom (NASDAQ:AVGO) jumped about 12% premarket on Monday after OpenAI (OPENAI) and the chipmaker announced a collaboration for 10 gigawatts of custom AI accelerators. OpenAI will design the accelerators and systems,

OpenAI has partnered with Japans SoftBank Group Corp. (TYO:9984) and its semiconductor subsidiary Arm Holdings (NASDAQ:ARM) to accelerate the development of next-generation artificial intelligence data center chips,

Broadcom is hitching its future to Sam Altman’s vision.

While near-term profitability may be diluted, Broadcom's robust moat in custom compute and networking underpins a bullish long-term outlook. Learn more about AVGO stock here.