00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Broadcom secured high-bandwidth memory and advanced node manufacturing capacity at Taiwan
00:07Semiconductor Manufacturing to support AI chip production through 2028 as demand for AI
00:13infrastructure grows. The company locked in volumes to address industry concerns about
00:17limited HBM supply and constrain Taiwan's semiconductor production capacity,
00:22according to Chosenbiz. Broadcom is expanding in the application-specific integrated circuit
00:26market as Google, Meta, Microsoft, and Amazon-developed custom AI chips.
00:32CEO Hocktan said AI chip revenue could exceed $100 billion next year.
00:37Fiscal first quarter revenue reached $19.31 billion, up 29% year-over-year. Analysts raised
00:44price targets after the company beat estimates and issued strong guidance tied to AI growth.
00:50Shares were down 0.5% at $331.10 during pre-market trading on Friday,
00:56according to Benzinga ProData. For all things money, visit Benzinga.com.
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