Broadcom sees over $100 billion in AI chip sales by 2027 on robust custom chip demand

Chip designer Broadcom on Wednesday projected its artificial intelligence chip revenue would exceed $100 billion next year, signaling surging demand for custom chips in a market dominated by Nvidia.

The company’s share price rose nearly 5% in extended trading after it also announced a new share repurchase program of up to $10 billion through the end of the year.