Broadcom Earnings: AI Is Now More than a Quarter of Total Revenue

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What We Thought of Broadcom’s Earnings

Broadcom’s AVGO fiscal first quarter beat management guidance. Revenue rose 25% year over year and 6% sequentially to $14.9 billion, with artificial intelligence revenue rising roughly 15% sequentially to $4.1 billion. Guidance implies flat sequential revenue, with 7% sequential growth in AI revenue.

Why it matters: AI chip sales and VMware continue to overwhelmingly drive…