** Broadcom Inc's AVGO.O CEO on Thursday assuaged investor worries about AI chip demand with a strong second-quarter forecast and hinted about new potential customers who could boost revenue in a highly competitive market

** Shares of chipmaker soar ~10.7% to $198.61 in premarket trading

DOMINATING THE WIRELESS CHIP MARKET

** J.P. Morgan ("overweight," PT: $250) believes AVGO's AI revenues to grow significantly in FY25, driven by strong spending on AI infrastructure and increased use of ethernet networking

** Morgan Stanley ("overweight," PT: $260) says co's recovery in legacy semiconductors is slow, but its software performance is strong

** Brokerage also sees networking bandwidth as crucial, with increasing adoption of Ethernet AI, a technology that enhances AI infrastructure with high-speed networking

** Bernstein ("outperform," PT: $250) says AVGO's AI capabilities will grow in the next few quarters

** Melius Research ("buy," PT: $258) believes new customers won't contribute to co's revenue for 1-2 years, but expects OpenAI to be a major contributor by 2026

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))