Reported about 20 hours ago
Broadcom Inc., known for supplying chips to major tech companies including Apple, has reached a market valuation of $1 trillion for the first time, driven by a predicted 65% increase in sales of its AI chips. CEO Hock Tan highlighted that the growth in AI revenue, which soared 220% last year, positions Broadcom as a key player in the booming AI market. The company anticipates its AI component market could be worth $90 billion by 2027, reflecting a growing demand among data center operators. Broadcom's stock saw a significant rise, marking its strongest performance since March 2020.
Source: YAHOO