Overview

• Broadcom reported fiscal Q3 2025 revenue of $15.952 billion, up 22% year over year, with GAAP net income of $4.140 billion and adjusted EBITDA of $10.702 billion.
• Seeking Alpha reports that AI revenue surged 63% and helped reaccelerate overall growth to 22% year over year.
• J.P. Morgan’s Harlan Sur reiterated a Buy with a $400 target after discussions with CFO Kirsten Spears, noting plans to tape out first‑generation 2nm/3.5D XPU products in 2025 for a prospective customer and potential scaling of engagements to one million XPU clusters.
• Bernstein’s Stacy Rasgon maintained a Buy rating with a $400 target as analysts argue strong fundamentals and AI momentum support the investment case despite a premium valuation.
• Seeking Alpha reports a new OpenAI partnership that it says would strengthen Broadcom’s custom AI chip position, a claim not confirmed in company filings.