Shares of (NASDAQ: AVGO) surged higher on Thursday, jumping as much as 16.1%. As of 11:41 a.m. ET, the stock was still up 13.2%.

The catalyst that sent the semiconductor specialist higher was robust artificial intelligence (AI) results and a stock split.

In the second quarter, Broadcom generated revenue that rose 43% year over year to $12.5 billion, driving adjusted earnings per share (EPS) to $10.96, an increase of 6%. The company noted that the results got a boost from AI, as hyperscale cloud customers continued to upgrade to next-generation technology capable of powering AI.

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Source Fool.com