New Delhi, April 7 -- Shares of heavyweight chipmaker Broadcom jumped 5% in Thursday's trade, hitting a three-week high of $330 per share, even as key Wall Street averages were trading lower.

The rally in the stock on 6 April was triggered after the chipmaker announced a long-term agreement with Google to develop and supply Tensor Processing Units. The companies also confirmed plans to work with Anthropic to power the AI startup's burgeoning operations.

The deals run through 2031 and centre on tensor processing units, or TPUs, which Broadcom will help develop for Google's AI data centres. Anthropic will also get access to 3.5 gigawatts of computing capacity from Google's AI chips starting in 2027.

The TPUs will be used to train and dep...