Broadcom, a tech group valued at just $125 billion five years ago, is now one of three key AI suppliers. Broadcom, with a market cap of more than $1.2 trillion, trails Nvidia in terms of market value, which now has a market cap of $3.42 trillion. But Broadcom also is almost seven times larger than Advanced Micro Devices.

Broadcom’s overall guidance may not have wowed Wall Street after the stock’s big recent run, but “AI is strong and getting stronger,” one analyst noted.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.