Broadcom's AI Boosts Q3 Revenue Above Estimates.

Broadcom predicts that sales tied to artificial intelligence will double this year, with AI-related chip sales potentially being more than 25% of the company's total soon. However, the chipmaker is contending with a broader slowdown in sales, with total revenue expected to rise less than 5% this quarter. Broadcom's growth has decelerated sharply from a pandemic-fueled surge, and it is facing an industrywide slump in tech demand. While Broadcom's report topped Wall Street estimates, it failed to impress investors, and its growth prospects have not matched those of Nvidia.