Broadcom AI Revenue Surges as Anthropic Becomes Key Customer

Broadcom Inc. reported a 221% year-over-year increase in AI semiconductor revenue, reaching $16.7 billion for the fiscal third quarter ending August 2, 2026. This growth has resulted in high customer concentration, with the company's five largest end customers accounting for approximately 55% of its $29.6 billion total quarterly revenue.

CEO Hock Tan stated that Anthropic is on track to become the company's largest custom AI chip (XPU) customer in 2027 and 2028. To support this growth, Broadcom established financial backstops for Anthropic's computing capacity leases, creating a potential liability of approximately $72 billion.

Broadcom guided for 93% year-over-year growth for the quarter ending November 1, 2026. Tan indicated that the company has secured the supply necessary for AI revenue to potentially reach $115 billion in fiscal 2027.