Broadcom is seeing limited stock movement on the Jalapeño news because the deal is largely priced in, matching expectations for 10 GW by 2030 and adding roughly $25-45B in annual incremental revenue. The bull case could push FY27 revenue toward $120B compared to current guidance above $100B, but margins on this ASIC design are estimated at 50-60%, making the deal margin-dilutive for Broadcom. Future potential depends on whether capacity can be built out sooner using a new $35B financing structure established with Blackstone and Apollo.