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Broadcom projects AI revenue to reach $230 billion by fiscal 2028
Broadcom has reported strong quarterly financial results, driven by a massive surge in demand for artificial intelligence infrastructure. The company reported revenue of $29.59 billion, representing an 86% increase year-over-year. Its AI semiconductor business specifically saw a 221% year-over-year increase, reaching $16.7 billion. Non-GAAP earnings per share were reported at $3.32.
CEO Hock Tan provided an optimistic long-term outlook, projecting that AI-related revenue will reach approximately $115 billion in fiscal 2027 and could double to roughly $230 billion by fiscal 2028. This growth is supported by partnerships with major technology firms, including Google, Meta Platforms, and OpenAI, for the development of custom AI accelerators and networking components.
Despite the strong performance, the company's stock has faced volatility, recently trading below its previous record highs. Broadcom's expansion focuses on providing the necessary hardware and software stack for the global build-out of AI data centers.
Entities
AMD · Bank of America · Broadcom · Broadcom Inc. · Google · Hock Tan · Meta Platforms · New Mexico · Nvidia · OpenAI · Santa Teresa · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [DISPUTED] Broadcom reported fiscal third-quarter 2026 revenue of $29.6 billion, a 33% sequential increase. finbold.com · www.fehmarn24.de · www.leinetal24.de · www.marketbeat.com · www.merkur.de
- [○ 1 SOURCE] Macquarie upgraded Broadcom to 'Outperform' and set a price target of $490. finbold.com
- [● 4 SOURCES] Broadcom projects AI revenue will increase to roughly $230 billion in fiscal 2028. finbold.com · www.marketbeat.com · denar.mk · rocketnews.com
- [○ 1 SOURCE] Tech Contrarians upgraded Broadcom from 'Sell' to 'Hold' following recent margin declines and stock price drops. seekingalpha.com
- [○ 1 SOURCE] BMO Capital Markets raised its price target for Broadcom to $575.00 and issued an 'outperform' rating.
- [● 4 SOURCES] Broadcom expects AI-related revenue to reach approximately $115 billion in fiscal 2027. finbold.com · www.it-boltwise.de · denar.mk · rocketnews.com
- [○ 1 SOURCE] Truist Financial lowered its price target for Broadcom to $520.00 while maintaining a 'buy' rating.
- [● 3 SOURCES] Farmers in Santa Teresa, New Mexico, fear losing water access to tech corporations.
- [● 3 SOURCES] The construction of data centers may become a decisive issue in the upcoming U.S. midterm elections.
- [● 3 SOURCES] Seven out of ten Americans oppose the construction of data centers in their local areas.
- [● 3 SOURCES] Modern AI data centers require massive amounts of energy and water for cooling.
- [● 6 SOURCES] Broadcom reported non-GAAP earnings per share of $3.32 for the quarter. www.fehmarn24.de · www.it-boltwise.de · www.leinetal24.de · www.marketbeat.com · www.merkur.de · +1 more