Broadcom stock falls after Q2 revenue miss; AI chip forecast unchanged at $100 billion
By
Kif Leswing
The bagel they save for the regulars. Don't skim, savour.
Summary
Broadcom reported fiscal Q2 revenue that missed LSEG consensus estimates, causing its stock to decline in extended trading. While revenue climbed 48% year-over-year to $15 billion, driven by demand for custom AI chips like Google's TPU, CEO Hock Tan did not raise the company's full-year AI chip sales target of $100 billion, disappointing investors. The weak software sales and unchanged AI forecast were the primary factors behind the stock's decline.
Key quotes
· 3 pulledRevenue climbed 48% from $15 billion in the same quarter a year earlier, Broadcom said in a statement.
Sales have climbed in recent quarters, driven by demand for custom AI chips, including Google's tensor processing unit.
The stock slid in extended trading and fell further on disappointment that CEO Hock Tan didn't raise the company's full-year target of $100 billion in artificial intelligence chip sales.
You might also wanna read
OpenAI Partners with Broadcom to Develop Custom AI Chips
OpenAI has partnered with semiconductor company Broadcom to develop and produce its own AI chips for powering its data centers. This strateg
The Verge·7mo ago
Tech Stocks Lose $1 Trillion in Value as AI Investment Skepticism Grows
The article reports on a significant market downturn affecting major tech companies heavily invested in artificial intelligence, with approx
gizmodo.com·7mo ago
OpenAI Partners with Broadcom to Develop Custom AI Chips for Internal Use
OpenAI is reportedly planning to start mass production of its own custom AI chips in partnership with semiconductor company Broadcom, with p
The Verge·9mo ago
Amazon Leads Tech Stock Sell-Off as AI Investment Concerns Mount
Amazon shares fell over 5% after the company forecast significant capital expenditure increases, contributing to a broader tech sell-off as
cnbc.com·4mo ago
IBM CEO Questions Profitability of Big Tech's Massive AI Data Center Investments
IBM CEO Arvind Krishna expresses skepticism about the profitability of Big Tech's massive AI data center investments, questioning whether th
businessinsider.com·6mo ago
Tesla quietly discloses $2 billion AI hardware acquisition in SEC filing, omits from earnings call
Tesla quietly disclosed in a single sentence buried in its Q1 2026 10-Q filing that it agreed to acquire an unnamed AI hardware company for
electrek.co·1mo ago