Wednesday, December 18, 2024

Broadcom, new star of tech firmament

It has increased its share in the artificial intelligence chip market. Its market value has surpassed US$1 billion. Its revenues are expected to grow at a compound annual rate of 40%.

Semiconductor manufacturer Broadcom surpassed the amount of US$1 billion in market value last week. It came after it reported huge profits in AI revenue in the third quarter of 2024 (the last quarter of its fiscal year) and projected “massive” growth for the coming quarters.

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