It is challenging for observing superbunching effect with true chaotic light, here we propose and demonstrate a method to achieve superbunching effect of the degree of second-order coherence is 2.42 with broadband stationary chaotic light based on a cascaded Michelson interferometer (CMI), exceeding the theoretical upper limit of 2 for the two-photon bunching effect of chaotic light. The superbunching correlation peak is measured with an ultrafast two-photon absorption detector which the full width at half maximum reaches about 95 fs. Two-photon superbunching theory in a CMI is developed to interpret the effect and is in agreement with experimental results. The theory also predicts that the degree of second-order coherence can be much greater than $2$ if chaotic light propagates $N$ times in a CMI. Finally, a new type of weak signals detection setup which employs broadband chaotic light circulating in a CMI is proposed. Theoretically, it can increase the detection sensitivity of weak signals 79 times after the chaotic light circulating 100 times in the CMI.
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