Broadcom reported fiscal third-quarter 2026 revenue of $29.6 billion, up 86% year over year, as AI semiconductor revenue jumped 221% to $16.7 billion on increased custom deployments by hyperscalers. The company expects fourth-quarter AI semiconductor revenue of $21.7 billion and total revenue of about $34.8 billion. Broadcom generated $13.7 billion in free cash flow, or 46% of revenue, and projects AI semiconductor revenue of about $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Its combination of custom accelerator design and high-speed networking is strengthening its position in large-scale computing, although Nvidia, AMD, Marvell and hyperscalers remain competitors. William Blair analyst Sebastien Naji maintained a Buy rating, while Broadcom shares rose 0.21% to $357.90 before slipping 0.23% after hours to $357.07.