Cathie Wood Buys $8M of Broadcom as AI Backlog Tops $73B
Cathie Wood’s ARK purchased $8 million of Broadcom shares on Feb. 17 as part of a $14 million AI infrastructure buy following a 4% Nasdaq drop this month. Broadcom holds a $73 billion backlog over the next 18 months and forecasts quarterly AI revenues of $8.2 billion.
1. ARK Invest Purchases Broadcom Shares
ARK’s funds acquired 24,205 Broadcom shares for $8.05 million on Feb. 17 as part of a $14 million combined investment in AI infrastructure names. This follows a 4% Nasdaq slide in February and represents a buy-the-dip move into AI chip suppliers.
2. Broadcom’s Immense AI Backlog
Broadcom reports a $73 billion order backlog concentrated among major hyperscalers including Google, Meta, Amazon and Microsoft, underlining sustained demand for its custom AI ASICs and XPU solutions.
3. Strong AI Revenue Guidance
Broadcom forecasts quarterly AI-related sales doubling to $8.2 billion, supported by hyperscaler infrastructure spending projected to reach $650 billion in 2026, up 60% year-over-year.