Broadcom Surpassed $1 Trillion, Promises AI

Broadcom, after surpassing $1 trillion in market cap, promised to make industry-leading advancements in artificial intelligence which could give it a top spot in the near future over domination over the AI economy.

Broadcom is a multinational supplier of semiconductors and many other technologies, software and hardware alike. It is known for its great reputation among technology companies which usually take many of its products and implement them into their own respective devices.

Broadcom's CEO, Hock Tan, had made it a priority to seek more acquisitions for his company, including his $69 billion venture into VMware. Broadcom's vast expanse of territory in both domestic and foreign markets has made it an international success.

Now, it has made its landmark achievement of going over $1 trillion in market cap. The stock rose 24.4% as a result.

Broadcom has taken the lead in AI investments. It has partnered with Apple to unleash a new generation of AI chips; OpenAI, the creator of ChatGPT, has also considered working with the company to advance its AI algorithm.

Not only that, but many companies are fleeing Nvidia towards Broadcom. Nvidia has taken a dominant edge in the semiconductor industry over the past few months, causing it to inflate the prices of its chips and making its clients upset. Now, this strategy by Nvidia to monopolize the industry is failing as Broadcom now poses a significant threat to Nvidia's leading share of the chips industry.

Broadcom is also known for providing chips for data centers, some of which included Microsoft and Google.