Business
Broadcom Third-Quarter Profit Soars on Growing Custom Chip Demand
Broadcom AVGO -2.74%decrease; down pointing triangle more than tripled its profit and nearly doubled its revenue in the third quarter, as the company said demand for its custom semiconductors should continue growing for the next two years.
The company has in recent years found a lucrative business designing purpose-built computer chips for artificial-intelligence labs such as OpenAI, Anthropic, and Google. Their computing needs are only increasing, Chief Executive Hock Tan told analysts on a Wednesday call.
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