[Comment to Win Points] Broadcom's earnings report makes a splash! Can its AI custom chips and networking empire continue to accelerate?

While the market is still debating whether general-purpose GPUs are sufficient, hyperscalers have already voted with their orders: custom AI accelerators and high-speed Ethernet are the true battlegrounds for the next phase of AI infrastructure.$Broadcom (AVGO.US)$ The "chip arms dealer" behind these tech giants is set to release its fiscal 2026 Q3 earnings report after the market close on September 2 (Eastern Time).Institutions expect Broadcom to generate revenue of $29.435 billion in fiscal 2026 Q3, an 84.52% year-over-year increase; EPS is projected at $2.55, up 199.53% year-over-year.Rather than simply chasing general-purpose computing power, Broadcom's core investment highlights are more focused on AI ASIC/XPU custom chips, Ethernet chips, and infrastructure software centered around VMware.

🔎 There are three key points to watch regarding Broadcom this time:

First, can demand for AI custom chips remain "outstripping supply"?

According to Broadcom's official earnings report and conference call disclosures, AI semiconductor revenue saw significant year-over-year growth last quarter, with strong and expanding visibility into AI orders. Management explicitly stated that demand for AI semiconductors remains "unsatisfied." The company is advancing multi-generation xPU, TPU, and AI networking collaborations with tech firms such as Google, Anthropic, OpenAI, and Meta, making custom AI accelerators a core growth engine. For Broadcom, the focus is not just on delivery volume this quarter, but also on the client matrix and order depth for the next phase of custom chips.

Second, can networking chips become the "high-speed nervous system" of AI clusters?

AI training and inference are not just a race for computing power; how data flows at high speed within high-performance clusters is equally critical. According to Broadcom's product announcements, the Tomahawk 6 3nm switching chip supports industry-leading throughput and is targeted at AI/ML, general-purpose cloud, and enterprise data centers, making it one of the top-performing Ethernet switching chips globally. Beyond the general GPU ecosystem, the combination of "Ethernet interconnects + custom accelerators" is becoming Broadcom's key differentiator in competing for AI infrastructure.

Third, how will software and "new computing infrastructure" unlock long-term growth potential?

According to Broadcom's earnings press release, revenue from the infrastructure software business continues to grow, with VMware Cloud Foundation focusing on enhancing infrastructure efficiency and security while supporting enterprise AI inference workloads. Meanwhile, Broadcom is partnering with investors like Apollo and Blackstone to establish an AI SPV platform, planning to deploy large-scale computing capacity over the coming years to support cutting-edge AI labs such as OpenAI and Anthropic. This signifies that Broadcom is evolving from a chip supplier into an integrator of AI computing infrastructure.

This time, the market's focus may not just be on Broadcom's quarterly results, but also on whether its custom AI chips and networking chips can continue to support the next phase of its growth narrative.

So, the question arises:

✅ What is the visibility of AI semiconductor orders and the level of customer concentration?

✅ What impact will supply chain diversification by core customers like Google have?

✅ Can the recovery in non-AI semiconductors sustain itself?

✅ Can VMware software continue to serve as a cornerstone of profitability?

✅ Regarding the AI SPV platform jointly established with Apollo and Blackstone, what are the funding and delivery timelines?

Now, it's up to fellow investors to make their judgments! Join this rewarded interaction quickly, share your views on Broadcom's AI chip and networking empire, and win point rewards! 👇👇

🏆 Activity 1: Bull Circle Insight Champion ✨

Broadcom's earnings report is making a major splash. With dual engines driven by custom AI chips and networking chips, will it bolster confidence in AI infrastructure after the results are released?

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🏆 Activity 2: Options Strategy Exchange ✨

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Note: All activities above will end at 04:00 Beijing Time on September 3; rewards will be distributed uniformly after the conclusion of this earnings season.

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