Why is Broadcom stock (AVGO) rising 4% on Tuesday?

Broadcom shares AVGO rose over 4% on Tuesday after investment firm DA Davidson upgraded the chipmaker to Buy from Neutral and raised its price target, citing the potential for continued artificial intelligence spending and upcoming public offerings by major AI developers. The stock also gained support from news of a $63 billion financing arrangement involving Bank of America, Blackstone, Citigroup and Morgan Stanley to fund purchases of Broadcom's AI chips and networking equipment for Anthropic.