Broadcom Q3 Revenue Soars 86% to $29.6B, AI Chips Up 221%
AVGO sits 23% above its 52-week low of $289.96 on elevated volume (2.4× avg).
Summary
Broadcom reported Q3 FY26 revenue of $29.6B, up 86% YoY, with AI chip revenue surging 221% to $16.7B. Adjusted EPS came in at $3.32. Management raised FY26 AI revenue guidance to ~$58B and guided Q4 revenue to ~$34.8B with AI ~$21.7B. CEO Hock Tan revealed that Anthropic plans 5 GW of TPU 8i deployments in 2027, possibly expanding to 10 GW, and OpenAI's Jalapeno project is set for 1.3 GW deployment next year. Despite the strong results, the stock fell 4-6% after the report, likely reflecting concerns about Google's shift toward other chipmakers and in-house AI chips. Analysts responded with updated targets ranging from $475 to $600, and Macquarie upgraded the stock to Outperform. This follows the 8-K filed on September 2nd and the prior news item on FY2025 annual results, but today's report provides the first detailed Q3 figures and forward guidance.
At the time of this announcement, AVGO was trading at $356.45 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7T. The 52-week trading range was $289.96 to $495.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.