💨 Abstract

Broadcom forecasts a 2% increase in Q2 revenue, exceeding Wall Street expectations, due to strong demand for custom AI chips from data-processing companies. This growth is due to companies seeking alternatives to Nvidia's costly processors. Broadcom anticipates $4.4 billion in AI semiconductor revenue for Q2, driven by hyperscale customers investing in custom AI chips for data centers.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖