Stocks making the biggest moves midday: Tesla, Broadcom, Upstart, Penn Entertainment, RH and more

Check out the companies making headlines in midday trading: Broadcom — Shares of the semiconductor maker jumped 20% after the company beat fiscal fourth-quarter earnings expectations and posted artificial intelligence revenue that more than tripled for the year, pushing Broadcom's market cap above $1 trillion for the first time . CEO Hock Tan said Broadcom is developing custom artificial intelligence chips with three large cloud customers, also driving investor enthusiasm.

The bank said TaskUs has both "industry-leading" margins and a "competitive moat." TaskUs should also benefit from AI, according to Morgan Stanley. Upstart Holdings — Shares of the lending platform popped more than 14% after an upgrade to buy from hold at Needham. The investment firm said Upstart now has a "proper balance in funding" and has strengthened its balance sheet after refinancing some debt.

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