Broadcom Forecasts $230 Billion in AI Chip Revenue for Fiscal 2028

Broadcom CEO Hock Tan forecast that the company’s AI-chip revenue will reach about $115 billion in fiscal 2027 and $230 billion in fiscal 2028. The targets raise the prospect of a stronger competitive challenge to Nvidia, but the next evidence point is much closer: Broadcom’s $21.7 billion AI-semiconductor revenue guide for the current quarter.

A delivered quarter versus an ambitious forecast

Broadcom reported $16.7 billion in AI semiconductor revenue in its fiscal third quarter, up 221% from a year earlier and 54% from the prior quarter. Tan characterized demand for the company’s custom AI accelerators and networking products as very strong. Those are completed sales; the fiscal 2027 and 2028 figures are forward-looking targets.

One competitive implication, not a market-share result

Bloomberg said the forecast could help position Broadcom to challenge Nvidia’s dominance in the AI-chip market. That is a prospective competitive interpretation, not evidence that market share has already shifted. Broadcom also said it is on track to exceed $30 in earnings per share in fiscal 2028, a second long-range objective alongside the AI-chip revenue target.

Guidance has nearer risks than the 2028 goal

For fiscal Q4, Broadcom forecast approximately $34.8 billion in total revenue, alongside its AI-semiconductor guide. The quarter is expected to end November 1. Broadcom says the outlook is an estimate based on current business trends and conditions, and that actual results may vary materially.

Risks Broadcom identifies for delivery

• The timing and volume of demand from significant customers may fluctuate.
• The company cites risks around estimating demand and adjusting manufacturing and supply-chain capacity.
• Broadcom also identifies reliance on contract manufacturing, outsourced supply chains, limited suppliers and competitive performance as risks.