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Broadcom Q2: Why The FY 2027 $100B Target May Already Be Obsolete
2026-05-28 · via All Articles on Seeking Alpha

Summary

  • At $20B per GW and 9-10 GW of customer commitments for 2027, Bernstein's and BofA's math implies Broadcom's $100B AI revenue target is a floor.
  • Google is locked in through 2031, Anthropic added 3.5 GW, and Meta extended through 2029. All signed in April after (emphasis) the $73B backlog was last disclosed.
  • The June 3 Q2 earnings is the first print where management can refresh the backlog with April's agreements and, potentially, revise the FY2027 guide higher.
  • OpenAI's Project Nexus faces an $18B financing impasse, and Jalapeño appears to have slipped to 2027. That's not good for sentiment.
  • I think the recent three signed agreements de-risked the 2027 GW count enough that I am willing to upgrade AVGO ahead of the June 3 print.
Historical Blueprints of the Digital Revolution and Automated Intelligence

J Studios/DigitalVision via Getty Images

On March 4, 2026, Broadcom (AVGO) CEO Hock Tan told analysts, among many other things, that he had "line of sight" to AI chip revenue in excess of $100 billion in 2027.

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