Broadcom shares rise as AI growth powers strong guidance

Broadcom shares climbed about 5% after the company posted strong first-quarter earnings and guidance that signaled ongoing artificial intelligence demand. The chipmaker posted adjusted earnings of $1.60 per share on $14.92 billion in revenue. That surpassed the adjusted earnings of $1.49 per share and $14.61 billion in revenue expected by analysts polled by LSEG. Revenues rose 25% from $11.96 billion a year ago. Bank of America analyst Vivek Arya called the results from Broadcom a "reassuring update from an AI leader" and a "positive read-across for AI sentiment." Broadcom has benefitted from the artificial intelligence boom that's swept Wall Street since the launch of ChatGPT, with shares more than doubling in 2024. The stock has pulled back about 19% since the start of 2025 as chipmakers reliant on parts outside the U.S. face tariff fears under President Donald Trump's administration. The results offered a reprieve for an industry that's faced a tough bar to clear this earnings s ... Read full article.