2024-12-15
Broadcom Inc. (AVGO) joined the
exclusive group of companies with a market capitalization exceeding $1 trillion
on Dec 13.
It was achieved following a significant
surge in its stock price on Dec 12-13, driven by strong earnings and a positive
outlook on artificial intelligence (AI) chip demand.
As of December 14, 2024, Broadcom's
stock closed at $224.80, reflecting a substantial increase from previous
levels.
The company's CEO, Hock Tan,
highlighted the "massive" opportunity in the AI chip market, noting
that AI-related revenue tripled this fiscal year to $12.2 billion. Projections
estimate that AI could contribute between $60 billion and $90 billion annually
by 2027.
Broadcom currently has a market cap of
$1.064 trillion.
Taiwan Semiconductor Manufacturing
Company (TSMC) officially joined the $1 trillion market capitalization club on December
13, 2024.
TSMC's rise to the $1 trillion
valuation is attributed to AI chip demand as TSMC is a key supplier for leading
technology companies, manufacturing chips essential for AI and high-performance
computing.
Its leadership in advanced
semiconductor processes, such as 3nm and beyond, positions it as the backbone
of innovation in the tech industry.
TSMC’s client list includes giants like
Apple, Nvidia, and AMD, further solidifying its dominance in the industry.
As of December 13, 2024, TSMC's stock
closed at $200.99, with a market cap of $1.033 trillion.
There are 10 companies that have
market cap more than 10 billion including Apple, Nvidia, Microsoft, Amazon, Alphabet,
Meta Platforms, Tesla, Broadcom, and TSMC.
Now 10 companies have joined the $1
trillion market capitalization club.
