Broadcom Stock Soars on Massive AI Deal and Record Earnings

A monumental $10 billion order for custom AI chips, coupled with exceptional quarterly performance, has propelled Broadcom Inc. shares to unprecedented heights. The semiconductor giant’s recent announcements have electrified the market, positioning it as a formidable, though less publicized, competitor in the rapidly expanding artificial intelligence sector.

For its fiscal third quarter, Broadcom reported financial results that surpassed even the most optimistic Wall Street projections. Company revenue surged to $15.96 billion, marking a 22% increase compared to the same period last year and comfortably exceeding analyst expectations of $15.83 billion.

The company’s profitability metrics were equally impressive. Adjusted earnings per share reached $1.69, outperforming the consensus forecast of $1.65. In a dramatic turnaround, Broadcom swung from a net loss of $1.88 billion the previous Read more...