Overview

• Broadcom said a prospective customer moved to production orders for its custom AI accelerators, becoming a qualified customer with bookings exceeding $10 billion.
• Financial Times and several analysts report the buyer is OpenAI, with first chips targeted for 2026 shipments and initial deployment for OpenAI’s internal workloads.
• Fiscal Q3 beat expectations with revenue of $15.95 billion, adjusted EPS of $1.69, and AI revenue up 63% year over year to $5.2 billion; Q4 guidance calls for $17.4 billion in revenue and $6.2 billion from AI chips.
• Shares jumped about 15% in intraday trading as at least 22 brokerages lifted price targets, and CEO Hock Tan said he will remain at the helm through at least 2030.
• Analysts describe Broadcom as a leading custom-silicon alternative even as Nvidia remains dominant with $46.7 billion in recent quarterly revenue, and JPMorgan highlighted an AVGO 2‑nanometer project for a customer as an industry first.