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Broadcom's stock surged as AI revenue skyrocketed 77%, fueled by cloud computing demand.
Broadcom's stock rose significantly after reporting strong first-quarter earnings and revenue, both above forecasts.
The company's AI revenue jumped 77% year-over-year to $4.1 billion, and it expects AI semiconductor revenue to reach $4.4 billion this quarter.
This growth is fueled by demand from cloud computing companies looking for alternatives to Nvidia's processors.
Broadcom's overall revenue was $14.92 billion, and it projects $14.9 billion for the next quarter, exceeding analyst expectations.
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Las acciones de Broadcom aumentaron a medida que los ingresos por IA se dispararon un 77%, impulsados por la demanda de computación en la nube.