Company Reports

Broadcom's solid August-quarter results and October-quarter guidance were strong, implying 86% and 93% year-on-year growth, respectively. Management provided bullish guidance through 2028, including artificial intelligence revenue quadrupling from 2026 and non-GAAP EPS nearly tripling to $30.

Broadcom is an amalgamation of high-value, differentiated and moaty chip and software businesses. Put simply, Broadcom is a prolific generator of cash flow. It is a terrific aggregator of firms, big and small. Its ability to acquire and streamline generates strong profits and cash flow and fuels robust shareholder returns. We laud the company for its execution and operating efficiency, which build upon its large organic investment and help it to outperform its end markets organically.

Marvell Technology and Google announced a commercial agreement for custom chips, including AI inference accelerators. Broadcom shares fell 5% intraday. This is the latest iteration of reports that Google is qualifying new sources for its TPU chips, including MediaTek and, potentially, AMD.

Apple and Broadcom have announced a renewed chip supply agreement through 2031. The agreement exceeds $30 billion in chips to Apple and includes wireless products like Broadcom's FBAR filters as well as custom chips, likely for artificial intelligence.

OpenAI and Broadcom publicly announced OpenAI's new custom AI compute chip, dubbed Jalapeno. This follows a public partnership announcement in the fall of 2025, in which the firms agreed to collaborate on 10 gigawatts of AI compute capacity between 2026 and 2029.

Broadcom is an amalgamation of high-value, differentiated and moaty chip and software businesses. Put simply, Broadcom is a prolific generator of cash flow. It is a terrific aggregator of firms, big and small. Its ability to acquire and streamline generates strong profits and cash flow and fuels robust shareholder returns. We laud the company for its execution and operating efficiency, which build upon its large organic investment and help it to outperform its end markets organically.

Broadcom reported in-line April-quarter results and good July-quarter guidance. Management maintained its outlook for "more than $100 billion" in artificial intelligence revenue in fiscal 2027. Shares fell 14% after hours, as investors hoped for higher guidance in 2027 and beyond.

Broadcom reports fiscal second-quarter results after the market closes on June 3. Shares have risen 33% year to date as of June 1, including rising 57% since a recent nadir on March 30.

Broadcom is an amalgamation of high-value, differentiated and moaty chip and software businesses. Put simply, Broadcom is a prolific generator of cash flow. It is a terrific aggregator of firms, big and small. Its ability to acquire and streamline generates strong profits and cash flow and fuels robust shareholder returns. We laud the company for its execution and operating efficiency, which build upon its large organic investment and help it to outperform its end markets organically.

The Information reported Marvell Technology is working on two custom AI chips for Google. One would be a memory processor designed to work alongside Google's Tensor Processing Units and the other an AI compute chip, potentially an alternative to the TPU. Marvell shares rose 5% intraday on the news.

Broadcom announced a multiyear partnership with Meta Platforms for its custom MTIA XPU chips. The partnership includes one gigawatt as the start of a multigigawatt buildout that encompasses XPUs, networking, and optical chips. No timeline was provided.

Broadcom and Google announced a long-term supply agreement for TPUs and networking chips, until 2031. Anthropic also announced plans to build out 3.5 gigawatts of data center capacity based on Google's TPUs, split between direct buildouts and rental capacity from Google Cloud Platform.

Broadcom's January-quarter sales beat guidance, led by artificial intelligence chip sales of $8.4 billion. April-quarter guidance implies near-30% sequential AI chip growth, to $10.7 billion. Management further guided to at least $100 billion in AI chip revenue in fiscal 2027.

Broadcom is an amalgamation of high-value, differentiated and moaty chip and software businesses. Put simply, Broadcom is a prolific generator of cash flow. It is a terrific aggregator of firms, big and small. Its ability to acquire and streamline generates strong profits and cash flow and fuels robust shareholder returns. We laud the company for its execution and operating efficiency, which build upon its large organic investment and help it to outperform its end markets organically.

Broadcom posted strong fiscal fourth-quarter results above guidance. Guidance for January-quarter artificial intelligence revenue was impressive, as was a new $11 billion AI chip order from Anthropic for the second half of 2026, and the announcement of a new custom AI chip customer in 2026.

Broadcom is an amalgamation of high-value chip and software businesses that on the whole are differentiated and moaty, in our view. Put simply, Broadcom is a prolific generator of cash flow. It is a terrific aggregator of firms, big and small. Its ability to acquire and streamline generates strong profits and cash flow and fuels robust shareholder returns. We laud the company for its execution and operating efficiency, which build upon its large organic investment and help it to outperform its end markets organically.

On Oct. 13, Broadcom and OpenAI announced a partnership for sales of custom AI accelerators and Ethernet networking chips to support 10 gigawatts of data center capacity. Broadcom expects deployment to start in the second half of 2026 and run through 2029. Broadcom shares rose 10% intraday.

Broadcom is an amalgamation of high-value chip and software businesses that on the whole are differentiated and moaty, in our view. It is a terrific aggregator of firms, big and small. Its ability to acquire and streamline generates strong profits and cash flow and fuels its robust dividend. We laud the company for its execution and operating efficiency, which build upon its large organic investment and help it to outperform its end markets organically.

Broadcom is an amalgamation of high-value chip and software businesses that on the whole are differentiated and moaty, in our view. Broadcom is a terrific aggregator of firms, big and small. Its ability to acquire and streamline generates strong profits and cash flow, and fuels its robust dividend. We laud the firm for its execution and operating efficiency, which build upon its large organic investment and help it to outperform its end markets organically.

Broadcom's July-quarter revenue rose 22% year over year to $16 billion, with $5.2 billion in artificial intelligence chip revenue rising 63% year over year. Management qualified a fourth custom AI chip customer, which it expects to drive an acceleration in AI revenue growth in fiscal 2026.