Broadcom and Taiwan Semiconductor Report Significant AI Growth
In the fiscal first quarter of 2026, Broadcom (NASDAQ: AVGO) reported a 29% increase in overall revenue, reaching $19.3 billion, with AI semiconductor revenue surging 106% year over year to $8.4 billion. The company anticipates a further rise in AI revenue to approximately $10.7 billion in the next quarter, alongside a forecast of $22 billion in total revenue. CEO Hock Tan stated that Broadcom aims to exceed $100 billion in AI revenue by 2027, backed by a robust $73 billion backlog.
Taiwan Semiconductor (NYSE: TSM) also highlighted significant growth, with first-quarter revenue climbing 40.6% year over year to $35.9 billion, driven largely by its high-performance computing platform, now accounting for over 60% of its total revenue. The company has increased its full-year growth forecast to above 30% and expects the global semiconductor market to exceed $1.5 trillion by 2030, with AI demand playing a critical role.
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