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

Broadcom shares were up 20% at $217.45 in Friday trading following its fourth-quarter earnings report, pushing its market value above $1 trillion for the first time. The stock needs to close at or above $214.

Broadcom is predicting a massive expansion in demand for chips that power AI — and the market, for now, is buying it all the way. The company’s valuation hit $1 trillion on Friday as its shares surged 21% after CEO Hock Tan said AI could present a $60 billion to $90 billion revenue opportunity in 2027,