Stock Market Update

[BRIEFING.COM] The major averages remain little changed from previous levels at midday.

Broadcom (AVGO 392.35, +11.57, +3.04%) is trading higher following the announcement of an expanded partnership with Meta Platforms (META 675.64, +13.15, +1.98%) to support the company's rapidly scaling artificial intelligence compute infrastructure.

The collaboration centers on the deepening of AVGO's role in co-developing and supplying custom silicon (ASICs) and high-performance networking solutions specifically tailored to handle the unique demands of META's next-generation AI workloads. This extension is directly fueled by META's aggressive capital expenditure on AI infrastructure, as the company seeks to scale inference capabilities and accelerate the training of its large language models across its global data center footprint.