Friday, their best day ever, and lifted the company’s market cap past $1 trillion for the first time. The chipmaker became the eighth member of tech’s 13-figure club. Since abandoning its Qualcomm offer, Broadcom shares are up more than 760%, trouncing Qualcomm’s 165% gain over that stretch. The S&P 500 is up 119%. hide content Broadcom Inc AVGO:NASDAQ + View Quote Details after hours iconAfter Hours: Last | 12/13/24 EST 225.15 quote price arrow up+0.35 (+0.16%) 224.80 quote price arrow up+44.14 (+24.43%) Close Broadcom’s market opportunity continues to grow because of the compute demands for large language models being created and deployed by the biggest tech companies, Tan told Cramer in September. “Each new generation LLM requires multiple x — 2-3x, maybe more — of compute, each time, each year,” Tan said. “You can imagine that’s a driver towards a larger and larger compute opportunity, which is going to be taken up largely by XPUs” Alphabet, Amazon , Meta and Microsoft spent a combined $58.9 billion on capital expenditures in the latest quarter, according to tech research firm Futuriom. That represented 63% growth and equaled about 18% of aggregate revenue. Broadcom’s differentiator in the market is that it’s making very expensive custom chips for AI for the world’s top tech companies with the promise of helping them move 20% to 30% faster and use 25% less power, Piper Sandler analyst Harsh Kumar told CNBC’s “Squawk on the Street” on Friday. “You have to be a Google, you have to be a Meta, you have to be a Microsoft or an Oracle to be able to use those chips,” Kumar said. “These chips are not meant for everybody.” WATCH: Broadcom’s