Broadcom Posts Record Quarterly Revenue, ‘Driven by Robust Demand for AI’

Broadcom (AVGO) on Thursday posted record quarterly revenue, thanks in part to growth in AI semiconductor revenue.

The chipmaker reported fiscal second-quarter revenue of $15 billion, up 20% year-over-year and roughly in line with the analyst consensus from Visible Alpha. Its adjusted net income of $7.79 billion, or $1.58 per share, rose from $5.39 billion, or $1.10 per share, in the year-ago quarter, also meeting expectations.

The gains came as Broadcom’s AI revenue jumped 46% to…