Broadcom stock surged around 10-14% on Friday, bringing its market cap near $1.6 trillion, after a blockbuster Q3 earnings beat fueled by booming Al chip demand.
The company reported $15.95 billion in revenue (up 22% year-over-year) and adjusted EPS of $1.69, both beating forecasts, while Al-specific revenue jumped 63% to $5.2 billion, with guidance pointing to $6.2 billion in Al chip sales next quarter.
Crucially, Broadcom confirmed a massive $10 billion order from a new major Al client-widely believed to be OpenAl, boosting expectations for its 2026 Al revenue to exceed $40 billion.
Analysts called Broadcom "the leading alternative" to Nvidia in Al ASICs, noting its momentum rivals the former explosive growth of Nvidia.
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