"I think someone more innovative might have seen the AI wave coming," Paul Argenti, professor of management at Dartmouth's Tuck School of Business, said in an interview on "Squawk Box" after the announcement.
An Intel spokesperson declined to comment.
Broadcom is now worth about $1.1 trillion and is the eighth U.S. tech company to cross the trillion-dollar mark. It's the second most valuable chip company, behind Nvidia, which has driven the AI boom to a $3.4 trillion valuation, trailing only Apple among all public companies. Nvidia's stock price soared 178% this year, but actually did better in 2023, when it gained 239%.