Broadcom Inc.'s market capitalization surpassed $1 trillion for the first time on Friday, December 13, 2024. This milestone followed the company's robust fiscal fourth-quarter earnings report, which highlighted significant growth in its artificial intelligence (AI) revenue.
The company's AI revenue for the fiscal year jumped 220% to $12.2 billion, a key factor in the market's positive reaction. Broadcom's stock experienced its best trading day on record, closing up over 24%.
This achievement places Broadcom among an elite group of technology companies with a trillion-dollar valuation. The surge reflects investor confidence in Broadcom's strategic positioning within the booming AI and infrastructure software markets.
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