Broadcom Surpasses Revenue Expectations with AI-Driven Growth

Broadcom has forecasted its first-quarter revenue to exceed Wall Street estimates, driven by strong demand for its custom AI chips and networking gear from cloud providers investing in GenAI infrastructure. The company's shares rose over 3% in extended trading, reflecting its significant gains this year amid a surge in AI-related stocks. Despite competition from Nvidia, Broadcom benefits from the expansion of AI data centers and has diversified into a tech conglomerate with acquisitions like VMware. The company reported fourth-quarter revenue of $14.05 billion, slightly below expectations.