Broadcom forecasts Q1 revenue above estimates on strong AI chip demand

Broadcom forecast quarterly revenue above Wall Street estimates on Thursday and predicted booming demand for its custom artificial intelligence chips in the next few years.

Shares of the Palo Alto, California-based company were up 14% in aftermaket trade after CEO Hock Tan told investors on a conference call he expects a revenue opportunity from AI in the range of $60 billion to $90 billion in fiscal 2027.