Broadcom boosts revenue forecast from AI chips, unveils stock split

FILE PHOTO: The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021. REUTERS/Mike Blake/File Photo

(Reuters) -Broadcom raised its annual forecast for revenue from chips that help in artificial intelligence work by 10% on Wednesday, and announced a stock split to take advantage of a rally in its shares this year.

Shares of the Palo Alto, California-based chipmaker surged 12% in extended trading.