Broadcom's AI chip revenue more than triples to $16.7 billion in a record $29.6 billion quarter
The custom accelerator business has stopped being a side line and started carrying the company.
Broadcom said revenue for the quarter ended August 2 reached $29.6 billion, up 86 percent from a year earlier, with AI semiconductor revenue of $16.7 billion growing 221 percent year over year and 54 percent from the prior quarter. Semiconductor solutions contributed $20.839 billion and infrastructure software $8.752 billion, while free cash flow came to $13.7 billion, or 46 percent of revenue. Chief executive Hock Tan said demand for the company's custom AI accelerators and networking continues to be very strong. For the fourth quarter Broadcom guided to about $34.8 billion in revenue and $21.7 billion in AI semiconductor revenue, and declared a quarterly dividend of $0.65 per share payable September 30.
Scripture for Reflection
“Instruct those who are rich in the present age not to be conceited and not to put their hope in the uncertainty of wealth, but in God, who richly provides all things for us to enjoy.”
We can hold our own hopes loosely as we read numbers this large.
