Broadcom rallies on forecast for booming AI chip demand

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Broadcom rallies on forecast for booming AI chip demand - Channel News Asia

Quick Summary:

Shares of Broadcom soared 14 per cent on Friday, with the chipmaker moving closer to $1 trillion in market value after it forecast that demand for its custom AI chips would keep rising in the coming years.

The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021.

"The AI story seems to really be coming into its own, perhaps Hock might think about shopping for a leather jacket," Rasgon added, referring to Nvidia CEO Jensen Huang's signature style.