Broadcom AI Gains Overshadowed by Wider Sales Slowdown
- Chipmaker is contending with post-pandemic deceleration
- After Nvidia surge, investors are looking for more AI winners
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Broadcom Inc. predicted that sales tied to artificial intelligence will double this year, a sign it’s benefiting from the same frenzy that boosted Nvidia Corp., but the chipmaker remains mired in a broader slowdown.
Semiconductor revenue from companies building out their AI capabilities could grow to $1 billion per quarter, Broadcom Chief Executive Officer Hock Tan said during a quarterly earnings call Thursday. AI-related chip sales could be more than 25% of the company’s total soon, he said.