Broadcom approaches $2 trillion market cap on AI chip demand and Apple's $30 billion commitment

Broadcom is nearing a $2 trillion market capitalization, driven by strong AI semiconductor revenue growth. The chipmaker's valuation is fueled by significant demand for its custom AI accelerators and networking chips, with bookings exceeding $30 billion. Apple also committed over $30 billion for custom silicon and wireless components through 2031. While the Apple deal provides order certainty, the primary growth driver remains the booming AI sector, with Broadcom's AI semiconductor revenue projected to reach over $100 billion by fiscal 2027.