Broadcom stock soars as company touts mega artificial intelligence demand

Broadcom is predicting a massive expansion in demand for chips that power AI – and the market, for now, is buying it all the way.

The company’s valuation hit $1 trillion on Friday as its shares surged 21 per cent after CEO Hock Tan said AI could present a $60 billion to $90 billion revenue opportunity in 2027, more than four times the current size of the market.