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 is predicting a massive expansion in demand for chips that power AI - and the market, for now, is buying it all the way.
The company's valuation hit $1 trillion on Friday as its shares surged 21% after CEO Hock Tan said AI could present a $60 billion to $90 billion revenue opportunity in 2027, more than four times the current size of the market. Broadcom also forecast first-quarter revenue above estimates on Thursday.
