Less famous than Nvidia, but building the custom silicon and networking behind AI.
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✦ The bottom line
Broadcom pulled in $19.3 billion, up 29% to a record. The engine: AI revenue of $8.4 billion, up 106% — custom AI chips and the networking that ties them together.
↓ the brief below
✦ Teach me
Money coming in
Every dollar Broadcom earned in the quarter — from selling chips and from infrastructure software. The simplest measure of size. Not profit — costs come out later.
Wall Street calls this
Revenue
Broadcom is two businesses in one. The trick is seeing which part is growing — and right now, it's the AI chips.
The headline number · latest quarter
$19.3
B
Money in for the quarter ending February 2026 — up 29% to a record. Management guided next quarter even higher, to ~$22B.
Source · 8-K · Item 2.02 — earnings release, Statements of Operations · Q1 FY26 · Filed Mar 4, 2026
$19.3 billion is the size. But the reason the market cares about Broadcom now is one slice of it growing far faster than the rest. Broadcom designs custom AI chips for the cloud giants — chips tailored to a single customer — plus the networking gear that wires thousands of chips together. That's the AI slice. How big, and how fast?
The engine · AI revenue
$8.4
B
AI revenue more than doubled — up 106% — on custom AI accelerators and networking. Management expects $10.7B next quarter.
Source · 8-K · Item 2.02 — CEO commentary (Hock Tan) · Q1 FY26 · Filed Mar 4, 2026
AI is the accelerant — but it sits inside a bigger structure. Broadcom is really two companies bolted together: a chip business and a software business (it owns VMware, which runs corporate data centers). Seeing the split tells you where the growth is, and where it isn't. Here are the two halves.
The two halves · by segment
+52
%
Chips (Semiconductor solutions, $12.5B) grew 52% on AI; the VMware software half ($6.8B) grew just 1%. AI is doing the heavy lifting.
Source · 8-K · Item 2.02 — Net revenue by segment · Q1 FY26 · Filed Mar 4, 2026
✓
Strong
Record $19.3B (+29%); AI revenue +106% to $8.4B, guided higher.