Meet the Newest Artificial Intelligence (AI) Chip Stock to Join Nvidia in the $1 Trillion Club

No chipmaker has benefited more from the rapid rise in artificial intelligence (AI) spending than Nvidia (NASDAQ: NVDA). The company's graphics processing units (GPUs) are essential for any company looking to develop and train large language models and build generative AI applications.Nvidia flew past the $1 trillion milestone in May 2023. It's more than tripled since that point, becoming one of just three companies with a market capitalization above $3 trillion. But Nvidia isn't the only company that's seen its market capitalization soar as AI spending booms. In fact, AI advancements are virtually inseparable from the success of nearly every company valued at over a trillion dollars. The newest member, which both complements and competes with Nvidia, is no different.The newest artificial intelligence chip stock in the $1 trillion club is Broadcom (NASDAQ: AVGO). The stock passed the milestone after a stellar fourth-quarter earnings report on Dec. 12. Here's how the company became a leading AI chipmaker worth 13 figures.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool