On Monday, Broadcom (AVGO.US) rose over 3% before the market opened, trading at $232.15.
According to Zhito Finance APP, last Friday, Broadcom (AVGO.US) shares surged over 24%, reaching a historic high, with the company's Market Cap surpassing one trillion. On this Monday, Broadcom rose over 3% before the market opened, trading at $232.15. On the news front, Broadcom revealed it is developing custom AI Chips with three major cloud customers, expecting that each customer will deploy 1 million AI Chips by 2027. Meanwhile, during the Earnings Reports conference call, Broadcom CEO Hock Tan stated that the custom AI Chip Business is expected to bring the company $60 billion to $-90 billion in revenue by 2027.