Broadcom reported Q4 2024 total revenue of $14.05 billion, up 51% year-on-year, primarily driven by a significant surge in AI revenue, which grew 220%.
Although Broadcom's total revenue fell slightly short of analyst expectations, the substantial growth in AI revenue indicates strong market demand and positions the company favorably against competitors.
According to CEO Hock Tan, AI revenue reached $12.2 billion for the year, showcasing Broadcom's effectiveness in leveraging its AI XPUs and Ethernet solutions.
With a market cap surpassing a trillion dollars, Broadcom has joined the ranks of tech giants thriving from the AI boom, despite missing some targets.
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