Broadcom reported AI semiconductor bookings exceeding $30 billion. Demand for these products currently surpasses available supply.
The company extended its hardware agreement with Alphabet’s Google through 2028. This five-year pact covers future generations of Tensor Processing Units (TPU).
Jefferies reiterated a Buy rating and a $550 price target for Broadcom. Analysts cited a solid TPU roadmap and an expanding custom ASIC customer base as key growth drivers.
Broadcom will pay a scheduled dividend on June 30. Recent filings also show insider selling by Chairman Henry Samueli.