Reported about 22 hours ago
Broadcom Inc. has seen its stock surge by 21% after reaching a $1 trillion market valuation for the first time, driven by a predicted boom in demand for its artificial intelligence chips. The company expects AI product sales to increase by 65% in the upcoming fiscal quarter, outpacing its overall semiconductor growth. With significant new customers and a projected AI component market of $90 billion by 2027, Broadcom is positioning itself as a major player in the AI spending frenzy.
Source: YAHOO