Broadcom $AVGO ( ▲ 1.98% ) plunged after its earnings report, and the fallout is rippling across Google’s $GOOGL ( ▲ 0.72% ) AI supply chain. The group of companies tied to Google’s AI hardware and networking stack is taking a sharp hit after weeks of momentum fueled by strong excitement around Gemini 3.
Several names are getting hammered. Celestica $CLS ( ▲ 7.71% ) dropped more than 12 percent as investors reassessed demand for Broadcom’s Tomahawk switch chipsets, which power AI networking. TTM Technologies $TTMI ( ▲ 4.04% ) fell more than 7 percent since it produces circuit boards used in Broadcom’s AI chips. Lumentum $LITE ( ▲ 9.45% ) slid close to 10 percent as worries mounted about slowing data center infrastructure spend, hitting demand for its high speed laser components.
Morgan Stanley tracks these companies in a custom basket of Google linked AI suppliers, and that basket is now seeing one of its worst single day losses of the year. The slump also follows the release of OpenAI’s GPT 5.2, adding another layer of pressure across AI hardware names.