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Broadcom (AVGO) reported $16.7 billion in AI semiconductor revenue for the third quarter of fiscal year 2026, a 221 percent increase year over year.
CEO Hock Tan stated the company has secured supply to double AI revenue to roughly $115 billion in fiscal 2027 and is targeting $230 billion by fiscal 2028.
The chipmaker generated $13.67 billion in free cash flow during the quarter, representing 46 percent of revenue. Cash on the balance sheet rose to $23.98 billion, up 123.69 percent year over year.
Management paid down $5.6 billion of long-term debt in the quarter and an additional $1.5 billion of senior notes after quarter-end, with a weighted-average coupon of 4 percent.
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