Broadcom 3Q Profit Soars on Growing Custom Chip Demand — Update
MorningStar·- Broadcom reported a third-quarter profit of $13.09 billion and revenue of $29.59 billion, both significantly exceeding analyst expectations. - The strong financial performance was driven by surging demand for custom artificial-intelligence chips from major labs like Google and OpenAI. - Chief Executive Hock Tan projected continued exponential growth, with AI semiconductor revenue expected to reach $21.7 billion in the fourth quarter.