On July 8, Broadcom rose over 6%, closing at $393.25, after Apple announced a multi-year partnership agreement worth over $30 billion. The collaboration has been upgraded from traditional RF component supply to joint development of custom ASIC chips, with technical cooperation extended to 2031. The AI server chip, code-named "Baltra," is expected to enter mass production in 2026. JPMorgan Chase revised up its AI revenue forecast for Broadcom, predicting AI-related revenue in 2027 will grow by 2 to 2.5 times compared to current levels and double again in 2028. First-quarter AI-related revenue reached $8.4 billion, a year-on-year increase of 106%. BofA Securities noted that Apple joins Broadcom's AI ASIC customer matrix, which includes Google, Meta, ByteDance, and OpenAI. Broadcom will invest $1.5 billion to expand its Fort Collins plant in Colorado to produce advanced RF components, and will produce over 15 billion chips domestically in the U.S. The custom server processor is expected to be manufactured using TSMC's N3P process.