Broadcom (AVGO) shares are surging more than 8% in premarket trading Friday after the chipmaker posted quarterly results and an outlook that topped analysts’ expectations on the back of robust demand for its 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) semiconductors.

Broadcom reported adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.60 on revenue that grew 25% year-over-year to $14.92 billion, both above Visible Alpha expectations. Its current-quarter proje✱cted revenue of $14.9 billion came in slightly ahead of the consensus.&n💜bsp;

The company said it🌟s AI revenue jumped 77% in the quarter, with projections showing continued improvement in that area.

Citigroup stuck with its buy rating on the stock “given upside from AI” and $220 price target, noting that the chipmaker's AI strength would offset any potential “downside” from sanctions on TikTok parent ByteDance and any loss of the business of supplying radio-frequency (RF) chips to Apple (AAPL) . Both China's Bytedance and the Apple RF chip business are 🍃projected at around 2% of Broadcom’s fiscal 2025 sales, Citi said.

U.S. President Donald Trump has an April 5 deadline for TikTok to be sold or banned, although The Hill cited him as saying Thursday that it could be extended if a deal isn’t reached.

Broadcom shares are up about 33% in the past 12 months through Thursday, although they struggled at the start of the year given mounting concerns over tech giants' big 澳洲幸运5官方开奖结果体彩网:AI spending and uncertainty about the potential impact of the Trump admi𝓡nistration’s policies on tariffs and AI chip export curbs.