Broadcom releases financial report and share repurchase plan, AI revenue grows rapidly and is expected to exceed 100 billion USD in 2027
Broadcom reported adjusted net revenue of US$19.31 billion in the first quarter of fiscal 2026, up 29% year-on-year, and AI semiconductor revenue surged 106% to US$8.4 billion. It is expected that revenue in the second quarter of fiscal year will be about US$22 billion, and AI revenue will reach US$10.7 billion. The company announced a share repurchase plan of up to US$10 billion, and its earnings report and guidance exceeded market expectations, showing strong growth driven by AI business. Broadcom expects AI chip revenue to exceed $100 billion in 2027, and its AI business will grow by 106% year-on-year in the first quarter, and its guidance will grow to 140% in the second quarter. The company has locked in key production capacity from 2026 to 2028 and has 6 deep strategic customers, including OpenAI. The infrastructure software business grew steadily, and the CEO stressed that the software business would not be replaced by AI.