US Stock Market Move | Broadcom Inc. (AVGO.US) rises by more than 10%, CEO says AI revenue will surpass total revenue from other sources within two years.

On Wednesday, Broadcom Inc. (AVGO.US) rose by over 10%, with its stock price hitting a record high and its total market value reaching $1.75 trillion. On the news front, Broadcom Inc. CEO Hock Tan expects that the company's AI-related revenue will exceed the sum of software and non-AI business revenue within the next two years. At the same time, he has set a goal for AI revenue to reach up to $120 billion by the fiscal year 2030, with his compensation directly tied to this target. He pointed out that in the future, there will be differentiation in the AI chip market - large cloud service providers will dominate the application of customized ASIC chips, while many enterprise-level customers will continue to rely on general-purpose GPUs. In addition, Oracle Corporation announced on September 10th that its quarterly remaining performance obligations reached $455 billion, a 359% year-on-year increase, with a 55% year-on-year growth in cloud infrastructure revenue, driving the overall rise in the AI chip sector.