With shares up by over 2,000% over the last 10 years, (NASDAQ: AVGO) demonstrates the power of long-term investing. Over that time frame, the stock has faced several macroeconomic crises -- from the COVID-19 pandemic to the rapid rate hikes of 2022 -- only to emerge even more valuable than before.

Let's discuss what the next decade could have in store for this leading semiconductor conglomerate as it pivots to new opportunities in generative artificial intelligence (AI) hardware.

According to analysts at Bloomberg, generative AI could become a $1.3 trillion market by 2032, growing at a compound annual growth rate (CAGR) of 42% over the next 10 years (from 2022). They expect training and inference hardware to drive near-term growth before the industry shifts to software and consumer-facing use cases like digital ads.

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Source Fool.com