Broadcom enters the trillion-dollar club on AI strength
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The semiconductor giant’s Q4 results underwhelm analysts on total revenue, but skyrocketing AI sales spur a stock rally that places Broadcom among America’s tech elite.
Shares in the semiconductor giant Broadcom (Nasdaq: AVGO) are urging in early market trading this morning after the company announced its Q4 2024 earnings, in which it revealed that its AI revenue skyrocketed 220%. At the time of this writing, AVGO shares are up over 20%, and with their rise, Broadcom is now the latest tech giant to surpass a trillion-dollar market cap. Here’s what you need to know.