Shares of Broadcom were soaring Friday following a bullish forecast on sales of artificial-intelligence chips, putting the company on the cusp of becoming the next member of the trillion-dollar club.

Analysts at Bank of America reiterated their buy rating on the stock, in part because of its "surging AI opportunity." They said Broadcom currently dominates the market for custom chips for internal workloads, but they cautioned that there is some risk ...

Shares of Broadcom soared on Friday, launching the chipmaker into the small club of public companies worth more than $1 trillion.