Meet the Newest Artificial Intelligence (AI) Chip Stock to Join Nvidia in the $1 Trillion Club
The newest artificial intelligence chip stock in the $1 trillion club is Broadcom ( AVGO 24.43%). The stock passed the milestone after a stellar fourth-quarter earnings report on Dec. 12. Here's how the company became a leading AI chipmaker worth 13 figures.
Broadcom, chip stocks power Wall Street higher
Broadcom forecast quarterly revenue above Wall Street estimates and predicted booming demand for its custom AI chips in the next few years, sending its shares up more than 21%. This also helped the company cross $1 trillion in market capitalization for the first time.
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