NASDAQ's AI Rocket: Broadcom's Forecast Fuels Tech Stock Surge

U.S. stock futures rose with Nasdaq 100 leading after Broadcom's optimistic AI chip revenue forecast. The tech rally, boosted by excitement around AI, impacted other chip stocks and brought investor focus to potential Federal Reserve policies. Key tech and equity indices reached new highs as market speculations soared.

U.S. stock index futures experienced an upswing on Friday as the tech-heavy Nasdaq 100 emerged in the lead, following a positive revenue forecast from Broadcom. The chipmaker fueled investor enthusiasm around artificial intelligence, projecting significant demand for its custom AI chips in the coming years.

Broadcom's announcement sent its shares soaring by 14.5% in premarket trading, and the ripple effect extended to other chip stocks like Marvell Technology and Micron Technology, showcasing the market's keen interest in AI. An anticipated Federal Reserve interest rate cut further added to the stock market's momentum this week.

At 7:00 a.m. ET, gains were noted across major indexes as the Nasdaq charted a weekly rise. This comes amid record highs in tech stocks, driven by investor strategy to leverage AI advancements and favorable U.S. economic policies. Key decisions from entities like KeyBanc and J.P. Morgan also influenced individual stock trajectories.

(With inputs from agencies.)