Broadcom Sees 4X Surge In AI Chip Sales, Fueling 44% Revenue Growth To Record $51.6 Billion In 2024: CEO Expects Momentum To Remain 'Strong'

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Broadcom Sees 4X Surge In AI Chip Sales, Fueling 44% Revenue Growth To Record $51.6 Billion In 2024: CEO Expects Momentum To Remain 'Strong' - Benzinga

Quick Summary:

What Happened: The company doubled the AI XPU shipments to hyperscale customers, which signifies a growing need for specialized hardware to power AI applications.“In Q1, we expect the momentum in AI connectivity to be as strong as more hyperscalers deploy Jericho3AI in their fabrics.

Broadcom Inc.(NASDAQ:AVGO) stock rose over 14.4% in premarket on Friday after the management in its earnings call said that they saw a four-fold increase in AI connectivity revenue driven by Tomahawk and Jericho shipments.

Our next-generation XPUs are in three nanometers and will be the first of its kind coming to market in that process node,” said Hock E Tan, the president, CEO, and director.