Broadcom stock jumps 21%, hits four-year high on AI boom to top $1 trillion market value for first time

Broadcom Inc. surged to a $1 trillion market valuation for the first time on Friday, December 13, after predicting a boom in demand for its artificial intelligence (AI) chips. The chip supplier for Apple Inc. and other big tech companies predicted sales of AI products would gain 65 per cent in the first quarter, far faster than its overall semiconductor growth of about 10 per cent.