Strong Q3 Performance: Broadcom's shares rose 4% after reporting Q3 earnings of $1.69 per share and revenue of $15.96 billion, both exceeding analyst expectations. The company anticipates $17.4 billion in revenue for Q4, driven by a 22% year-over-year increase in Q3 revenue.
New AI Chip Deal: Broadcom secured a $10 billion order for its XPU custom AI chips from a new cloud customer, enhancing its competitive position against Nvidia. The company reported a 63% increase in AI-related revenue, reaching $5.2 billion in Q3, and expects further growth in Q4.
