Broadcom Inc (AVGO.O) forecast third-quarter revenue above market estimates on Thursday, as it became the latest chip firm to benefit from a demand boost from corporate spending on AI-related technologies.
The viral success of ChatGPT has sparked a surge in orders for chips that power data center and underpin AI.
The company forecast current-quarter revenue of about $8.85 billion, while analysts polled by Refinitiv are expecting revenue of $8.72 billion.
Revenue in the second quarter rose 8% to $8.73 billion, compared with the estimates of $8.71 billion.