Broadcom raises long-term AI chip forecasts amid strong quarter
Broadcom reported quarterly revenue and profit that beat analyst expectations, driven by demand for its custom AI chips from major companies like Google, Meta, and OpenAI. The company raised its fiscal 2027 AI chip revenue forecast to $115 billion, aiming to double that to about $230 billion in 2028. Despite strong results, Broadcom shares have underperformed semiconductor rivals so far this year.
- Quarterly revenue and profit exceeded analyst estimates
- AI chip bookings topped $30 billion last quarter
- 2027 AI chip revenue forecast raised to $115 billion
- 2028 AI chip revenue target set at $230 billion
- Shares have gained 6% this year, lagging semiconductor rivals
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