Broadcom, Micron, and Marvell Report Strong AI Revenue Growth
Three chipmakers posted record AI revenue and raised guidance, signaling sustained demand despite recent market volatility.
Broadcom, Micron, and Marvell have all reported quarterly results that underscore accelerating demand for artificial intelligence infrastructure. The companies delivered revenue figures that significantly exceeded market expectations, driven primarily by custom accelerators, high-bandwidth memory, and data-center networking silicon. This performance contrasts with recent market wobbles caused by speculation about a slowdown in AI development, offering a clearer picture of actual corporate earnings power.
According to GN auto stocks/technology: chip stocks, the sector is seeing a pull-forward of orders by hyperscalers who are aggressively securing supply for next-generation hardware. The financial results indicate that the supply-demand mismatch remains a core driver of profitability, with manufacturers ramping production capacities to meet the surging requirements of large-scale AI deployments.
Broadcom Drives Revenue Through Custom Silicon
Broadcom reported fiscal Q3 revenue of $29.59 billion, an 85.5% year-over-year increase. AI semiconductor revenue specifically reached $16.7 billion, surging 221% year-over-year and accounting for 56% of total company revenue. The company’s non-GAAP EPS of $3.32 beat the consensus estimate of $3.24, reflecting strong execution in its high-margin custom chip segment.
Management projects fiscal Q4 AI revenue of $21.7 billion, a 236% year-over-year jump. The long-term outlook includes a trajectory toward $115 billion in AI semiconductor revenue by fiscal 2027 and $230 billion by fiscal 2028. This growth is anchored by agreements with six major customers, including a multi-year deal for Google TPUs and a planned 1.3 gigawatt deployment for OpenAI in 2027.
Micron Expands Memory Production Capacity
Micron Technology posted fiscal Q3 revenue of $41.46 billion, up 345.7% year-over-year, significantly beating consensus estimates. Data-center revenue exceeded $25 billion in the quarter, establishing an annualized run rate above $100 billion. The company’s non-GAAP EPS of $25.11 far surpassed the estimated $20.28, highlighting the premium pricing power available in the high-bandwidth memory market.
For fiscal Q4, Micron guided revenue to approximately $50 billion with gross margins near 86%. The company plans to spend about $27 billion on capital expenditures in fiscal 2026, with further increases expected in fiscal 2027. HBM4 12-high production is ramping at twice the speed of the previous generation, with over $1 billion in HBM4 revenue already shipped.
Marvell Raises Data-Center Growth Outlook
Marvell has raised its fiscal 2027 data-center growth outlook to 60%, reflecting increased visibility into customer demand. CEO Matt Murphy has identified the upcoming Investor Day as a key catalyst for further detail on the company’s strategic direction. This adjustment signals confidence in the sustained expansion of its networking and custom silicon portfolios within the AI infrastructure ecosystem.
