Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Instagram Outage Disrupts Thousands of U.S. Users 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Broadcom (NASDAQ: AVGO) surged over 12% in premarket trading after delivering strong fiscal Q1 results and upbeat guidance, fueled by soaring demand for its AI chips. The company reported adjusted earnings of $1.60 per share on $14.92 billion in revenue, surpassing estimates of $1.51 per share and $14.59 billion in revenue.
AI-driven revenue skyrocketed 77% year-over-year to $4.1 billion, while semiconductor solutions climbed 55% to $8.2 billion. Infrastructure software revenue also surged 45% to $6.7 billion. Broadcom expects fiscal Q2 revenue of $14.9 billion, exceeding the $14.73 billion consensus.
CEO Hock Tan highlighted growing AI chip demand, revealing that four additional hyperscale customers are now working with Broadcom, increasing its long-term revenue outlook for 2027 beyond the prior $60 billion to $90 billion estimate. Broadcom’s momentum has been amplified by supply constraints at Nvidia (NASDAQ: NVDA), pushing tech giants like Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) to explore alternatives.
Despite market concerns over AI investments, analysts remain optimistic. Bernstein noted Broadcom’s AI growth is offsetting weaknesses in its core business, with AI revenue expected to ramp up through 2025. Meanwhile, worries persist over Broadcom’s reliance on Apple (NASDAQ: AAPL), as the iPhone maker moves toward in-house chip development.
The report challenges fears that AI stocks are losing momentum, reinforcing Broadcom’s position in the booming semiconductor sector.
