Broadcom forecasts Q1 revenue above estimates on strong AI chip demand

Big tech has been vying to reduce its dependence of pricey, supply-constrained AI processors made by front-runner Nvidia , helping Broadcom which makes advanced custom artificial intelligence chips for so-called hyperscalers. Demand for Broadcom's networking chips that help move around vast amounts of data used by applications such as OpenAI's ChatGPT has also increased, as businesses double down on investments in GenAI infrastructure.