Broadcom Inc.

Broadcom is the only credible non-NVIDIA design partner for hyperscaler custom AI silicon at scale — Google TPU, Meta MTIA, ByteDance, the rumoured OpenAI XPU — and a confirmed $73B AI backlog into a $100B 2027 AI revenue target makes the June 3 print a structurally bullish setup. Broadcom sits in two physically distinct semiconductor businesses that together form one of the cleanest AI bottlenecks in the stack. The first is AI custom silicon — the co-design of hyperscaler-specific accelerators (Google's TPU v5e, v5p, v6 Trillium; Meta's MTIA v1 and v2; ByteDance's internal accelerator; and the strongly rumoured OpenAI Titan / XPU due 2026-27) where Broadcom owns the SerDes, the packaging integration, and the back-end physical implementation while the customer owns the architecture and the compiler. Roughly 50% of the world's hyperscaler custom-accelerator volume rolls through Broadcom's Avago / LSI design teams in San Jose, Singapore, and Bangalore. The second business is AI networking — the Tomahawk 5 and Tomahawk 6 Ethernet switch silicon (51.2T and 102.4T per ASIC respectively), the Jericho 3 routing silicon, the Bailly 51.2T co-packaged optics module, and the 800G / 1.6T SerDe…