By Juby Babu

Dec 11 (Reuters) – Broadcom on Thursday projected first-quarter revenue above Wall Street estimates, betting that sustained, robust demand for its specialized artificial ‍intelligence chips would power another year of growth and help quell investor worries of a spending slowdown.

Shares of the Palo Alto, California-based company rose over 2% in extended trading.

Broadcom CEO Hock Tan said in a statement that Broadcom’s ‌AI semiconductor revenue – which encompasses both ‌the custom chips it helps firms such as Google to build, as well as networking chips used in AI data centers – is expected to double to $8.2 billion in the fiscal first quarter.

The company has emerged as a major beneficiary of the technology industry’s rush to build ‍out AI capabilities. The company suppli

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