Broadcom delivered record results in its fiscal second quarter, powered by an accelerating boom in demand for its AI chips.
AI drives the numbers
The company posted record revenue, operating profit and free cash flow, with AI semiconductor revenue surging 143% year-on-year to $10.8 billion. For the third quarter, Broadcom guided to AI revenue of $16 billion — up more than 200% — with total revenue seen rising 84% to $29.4 billion at a 67% non-GAAP operating margin.
Marquee customers
Broadcom's growth is underpinned by six core custom-chip customers, including Anthropic, Google, Meta and OpenAI. The board approved a quarterly dividend of $0.65 per share.
Sources: Broadcom, CNBC.