Broadcom Says 'We expect revenue from AI to be $12 billion for fiscal year 2024 driven by Ethernet networking and custom accelerators for AI data centers'
Portfolio Pulse from Benzinga Newsdesk
Broadcom projects its AI-related revenue to reach $12 billion in fiscal year 2024, driven by Ethernet networking and custom accelerators for AI data centers.
September 05, 2024 | 8:19 pm
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Broadcom anticipates $12 billion in revenue from AI in fiscal year 2024, primarily from Ethernet networking and custom accelerators for AI data centers.
Broadcom's projection of $12 billion in AI revenue indicates strong growth potential in the AI sector, particularly through Ethernet networking and custom accelerators. This positive outlook is likely to boost investor confidence and positively impact AVGO's stock price in the short term.
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