Broadcom extends Apple chip supply deal through 2031

Broadcom and Apple Inc. have signed a new multi-year agreement to extend their custom chip supply deal through 2031. Under this expanded arrangement, Broadcom will develop custom ASIC chips, ensuring long-term semiconductor strategy and supply chain stability for Apple while securing Broadcom's future revenue. Following the announcement, Broadcom shares moved lower ahead of the US market open. This strategic partnership reflects resilience amid global tensions and reinforces the technological collaboration between the two companies.