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Broadcom Reports Record Q1 Earnings, Sees Accelerating AI Chip Demand
Semiconductor giant sees 106% year-over-year growth in AI chip revenue, expects further acceleration in Q2.
Published on Mar. 6, 2026
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Broadcom reported record financial results for its first quarter of fiscal 2026, citing faster-than-expected growth in AI semiconductors and continued profitability across both its Semiconductor Solutions and Infrastructure Software segments. The company posted consolidated revenue of $19.3 billion, up 29% year-over-year, and delivered consolidated adjusted EBITDA of $13.1 billion, representing 68% of revenue. Broadcom's Semiconductor Solutions segment generated Q1 revenue of $12.5 billion, up 52% year-over-year, with AI semiconductor revenue growing 106% year-over-year to $8.4 billion, exceeding the company's outlook.
Why it matters
Broadcom's strong performance in AI semiconductors highlights the growing demand for custom AI accelerators and AI networking solutions, which are critical for powering the next generation of data centers, cloud computing, and edge devices. The company's ability to secure key supply chain components and maintain profitability as it ramps up AI chip production suggests it is well-positioned to capitalize on the ongoing AI revolution.
The details
Within AI, Broadcom CEO Hock Tan emphasized both custom accelerators and AI networking, noting that Q1 AI networking revenue grew 60% year-over-year and represented roughly one-third of total AI revenue. For Q2, Broadcom expects AI networking to rise to 40% of total AI revenue, and Tan said the company is 'clearly gaining share in networking.' Tan also highlighted demand for Broadcom's Tomahawk 6 switch at 100 terabit per second and its 200G SerDes, and said the company expects to extend its lead with Tomahawk 7 in 2027, which he said will feature 'double the performance.' Broadcom also said its custom AI accelerator ramp is 'progressing very well' across five customers, with a sixth customer now secured.
- Broadcom reported its fiscal Q1 2026 results on March 6, 2026.
- For fiscal Q2 2026, Broadcom expects to report results after the market closes on Wednesday, June 3, 2026.
The players
Broadcom
A global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets, including wired and wireless communications, enterprise and cloud storage, and networking.
Hock Tan
The CEO of Broadcom, who discussed the company's strong performance in AI semiconductors and its outlook for continued growth in this area.
What they’re saying
“We must not let individuals continue to damage private property in San Francisco.”
— Robert Jenkins, San Francisco resident (San Francisco Chronicle)
What’s next
Broadcom plans to report its fiscal Q2 2026 results after the market closes on Wednesday, June 3, 2026.
The takeaway
Broadcom's strong performance in AI semiconductors, driven by growing demand for custom accelerators and AI networking solutions, highlights the company's ability to capitalize on the ongoing AI revolution and maintain its leadership position in the semiconductor industry.
