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Broadcom shares rallied 10.3% on Monday, as investors poured back into several high-flying tech companies tied to the artificial intelligence trade. Wall Street is also taking notice of the chipmaker as a derivate play of Alphabet's growing AI dominance.

Broadcom — one of the biggest suppliers of high-performance, application-specific chips, or ASICs, for hyperscalers — has been on a tear this year, rallying 60% year to date. Monday's puts Broadcom shares on pace for their best day since April 9. The stock is also the best performer in the Technology Select Sector SPDR fund (XLK) , which tracks the S&P 500 tech sector.

The move in Broadcom comes as investors continue to push shares of Go

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