Broadcom, a US chipmaker, reported second-quarter revenue of US$22.19 billion, missing analysts’ estimate of US$22.27 billion.

The company also kept its 2027 AI chip sales target at US$100 billion, sending its shares down more than 13% in extended trading.

Broadcom forecast third-quarter AI chip revenue of US$16 billion, below analysts’ estimate of US$16.36 billion.

Broadcom’s US$100 billion AI target was first outlined in March 2026 and has not been raised since.

Broadcom’s AI business focuses on chips and networking products for large cloud customers.

CEO Hock Tan said Broadcom now expects to ship more than 10 gigawatts of AI chips in 2027, slightly above earlier estimates.

Broadcom’s outlook comes as large tech companies are expected to spend at least US$630 billion on AI infrastructure this year.

🔗 Source: Reuters

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