Broadcom Inc. (AVGO) Experiences Remarkable Stock Surge

Broadcom Inc. (AVGO) witnessed a significant stock surge on Friday, with its share price increasing by over 20%. This remarkable rise propelled the company's market capitalization to an unprecedented $1.024 trillion.

The surge followed Broadcom's latest earnings report, which projected optimistic demand for custom AI chips. CEO Hock Tan emphasized the company's anticipation of a revenue opportunity between $60 billion and $90 billion in fiscal 2027 within the AI sector. This forecast was further strengthened by agreements with two major hyperscale customers.

Market Response

At 9:38 am ET, Broadcom's shares experienced a robust jump, rising 20.25% to trade at $217.28.