Broadcom (AVGO) closed Friday’s session 24% higher — ending the trading week 25.2% higher on its five-day moving average — after forecasting significant demand gains for its AI chips in the coming years in its latest earnings print. “We see our opportunity over the next three years in AI as massive,” Broadcom CEO Hock Tan…
Broadcom stock (AVGO) soared more than 20% Friday as the chipmaker touted its “massive” opportunity in the artificial intelligence market during a quarterly earnings call the prior evening. Broadcom CEO Hock Tan said the company expects its custom AI chips will generate between $60 billion and $90 billion in revenue over the next three years…
By Arsheeya Bajwa and Zaheer Kachwala (Reuters) -Broadcom forecast quarterly revenue above Wall Street estimates on Thursday and predicted booming demand for its custom artificial intelligence chips in the next few years. Shares of the Palo Alto, California-based company were up 14% in aftermaket trade after CEO Hock Tan told investors on a conference call…