Broadcom valuation soars on AI sales boom

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SAN FRANCISCO: Broadcom Inc, a chip supplier for Apple Inc and other big tech companies, surged to a US$1 trillion market valuation for the first time after predicting a boom in demand for its artificial intelligence (AI) chips.

And chief executive officer Hock Tan said his company had won two major new hyperscaler customers – the biggest operators of data centres.

The chipmaker also predicted that the addressable market for AI components that it designs for data centre operators would reach as high as US$90bil by 2027.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Technology Semiconductor Apple Artificial intelligence Broadcom AI /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 00:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 663 words

Reading Time: 4 minutes read

Sentences: 36 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 24422328

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Official Website: thestar.com.my

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