Broadcom stock rallies 6% on upbeat earnings; AI chip sales expected to hit $100 billion by 2027

Broadcom’s shares rose 6% to $330.70 after strong fiscal first-quarter results, reporting $19.3 billion in sales and a net income increase to $7.35 billion. The company anticipates $22 billion in revenue for the next quarter, bolstered by a surge in AI chip demand.