Broadcom reports record $22.2 billion Q2 revenue with AI semiconductor bookings exceeding $30 billion

Broadcom's fiscal Q2 2026 revenue reached $22.2 billion, up 48% year over year, with AI semiconductor revenue rising to $10.8 billion, up 143% year over year. Bookings for AI semiconductors exceeded $30 billion during the quarter, compared with the $10.8 billion shipped.

For fiscal 2027, Broadcom expects AI semiconductor revenue to exceed $100 billion. For the full fiscal year 2026, the company expects AI semiconductor revenue of $56 billion, up approximately 180% from fiscal 2025. President and CEO Hock Tan said networking represented almost 40% of second-quarter AI revenue, with a more typical level likely closer to 30% of AI revenue as custom XPU ramps accelerate.

Broadcom entered into agreements with Google (April long-term agreement for multiple generations of TPUs and AI networking), Anthropic (TPU-based compute access involving more than one gigawatt in 2026 and five gigawatts beginning in 2027), OpenAI (contractual commitment to deploy 1.3 gigawatts in 2027 as part of a larger 10-gigawatt agreement by 2029), and Meta (3 gigawatts expected through end of 2028 under MTIA XPU partnership, with initial 1-gigawatt order delivery beginning in second half of 2027).