“For the full year 2026, we expect to achieve AI semiconductor revenue of $56 billion, up approximately 180% from fiscal 2025.”
Fiscal 2026 closes in early November 2026; after three quarters Broadcom raised the figure to $58 billion (September 2, 2026) with Q4 AI revenue guided at $21.7 billion, so the $56 billion forecast is tracking to be met or exceeded.
“We expect these deployments to drive our Q4 AI revenue to $21.7 billion, which is up 236% year-on-year. Based on this Q4 guidance, we expect our fiscal 2026 AI revenue to be $58 billion for the year, up 186% year upon year, and above our prior guidance of $56 billion.”
Fiscal 2026 ends in early November 2026 and Q4 results have not yet been reported.
“We expect this to represent an AI revenue serviceable addressable market, or SAM, for XPUs and network in the range of $60 billion to $90 billion in fiscal 2027 alone.”
Tan reaffirmed the $60–90 billion fiscal 2027 SAM in March 2025, then dropped SAM framing in mid-2025; Broadcom's own fiscal 2027 AI revenue is now guided to about $115 billion, but the SAM claim itself resolves only in fiscal 2027.
“Today, in fact, we have line of sight to achieve AI revenue from chips, just chips, in excess of $100 billion in 2027. We have also secured the supply chain required to achieve this.”
Broadcom reiterated the >$100 billion fiscal 2027 figure in June 2026 and raised it to about $115 billion in September 2026; fiscal 2027 ends in late October 2027.
“We currently have three hyperscale customers who have developed their own multi-generational AI XPU roadmap to be deployed at varying rates over the next three years. In 2027, we believe each of them plans to deploy 1 million XPU clusters across a single fabric.”
Tan reaffirmed the 1-million-XPU-cluster roadmap on the March 2025 call; deployment scale in 2027 is not yet observable.
“For the 2027 fiscal year, Broadcom is looking to double AI revenue to $115 billion, with plans to double again to $230 billion in fiscal 2028; the company is on target to produce over $30 in earnings per share.”
Fiscal 2028 ends in late October 2028; LSEG consensus for FY2028 adjusted EPS at the time was $25.86, well below Tan's $30-plus target.
“We expect revenue from AI to be $12 billion for fiscal year 2024 driven by Ethernet networking and custom accelerators for AI data centers.”
Broadcom's FY2024 results (December 12, 2024) reported AI revenue of $12.2 billion, up 220% year on year — essentially exactly the $12 billion forecast.
“I know we told you in December, our revenue from AI would be 25% of our full-year semiconductor revenue. We now expect revenue from AI to be much stronger, representing some 35% of semiconductor revenue at over $10 billion.”
FY2024 AI revenue was $12.2 billion out of $30.1 billion of semiconductor revenue — roughly 41%, comfortably above both the 'over $10 billion' and 'some 35%' markers.
