Broadcom reports 86% revenue growth amid AI boom as Intel shows signs of recovery

Broadcom just posted a quarter that makes most of the chip industry look like it’s standing still. Consolidated revenue for fiscal Q3 2026 hit $29.6 billion, up 86% from a year earlier. Intel had good news too. Its Q2 2026 revenue climbed 25% to $16.1 billion. Broadcom’s AI engine runs hot The core of Broadcom’s quarter was AI semiconductors. That business brought in $16.7 billion, a 221% jump year over year. AI chips made up 56% of total revenue, so more than half of every dollar the company booked came from AI hardware. Profitability kept pace with the top line. Non-GAAP operating income reached $20.1 billion, up 92% year over year. Free cash flow came in at $13.7 billion, or 46% of revenue. Management also signaled that the next quarter should be even bigger. Broadcom guided Q4 fiscal 2026 revenue to approximately $34.8 billion, which would represent 93% growth from the prior year. The company raised its full-year fiscal 2026 AI revenue forecast to $58 billion. Its longer-range outlook calls for AI revenue of approximately $115 billion in fiscal 2027 and approximately $230 billion in fiscal 2028. Who’s buying all those chips Broadcom’s confidence rests on supply agreements with ...