Broadcom’s stock surged after reporting record quarterly earnings, driven by robust demand for chips used in data centers and AI applications. The company expects AI to contribute $8 billion in revenue by 2024, fueling optimism about reaching a $1 trillion market cap. Key points: 1) Broadcom’s Q2 revenue hit $8.73 billion, beating estimates. 2) Data center and AI chip sales drove growth, offsetting weakness in smartphone and PC markets. 3) CEO Hock Tan sees AI as a major growth driver, projecting $8 billion in AI revenue by 2024. 4) Broadcom’s market cap neared $350 billion, putting a $1 trillion valuation within reach if AI growth materializes. 5) The company’s diversified product portfolio and focus on AI position it well for continued success.