Nvidia and Broadcom Ride AI Boom with Record Revenue Growth
Nvidia and Broadcom, two semiconductor giants, are experiencing accelerated sales growth over time. Their quarterly revenue trajectories reveal strong demand for their solutions.
For Nvidia, this expansion is happening on a quarterly basis, with revenue increasing from $96.2 billion in its fiscal Q2, ended July 26, to about $108 billion in Q3. The AI chip leader projected 70% year-over-year sales growth in its next fiscal year, but noted that this would be higher if not for supply constraints.
Nvidia's recent acquisition of Hugging Face is seen as a move to bolster against the cyclical nature of the semiconductor industry and secure its position in the AI sector. Meanwhile, Broadcom's sales of $29.6 billion in its fiscal third quarter, ended Aug. 2, was an impressive 86% year-over-year increase, but the company forecasted revenue growth to accelerate to 93% year over year in its fiscal Q4, hitting $34.8 billion.