Broadcom Says Anthropic Will Overtake Google as Top Customer

EarningsProduct / Tech Impact 4
โดย The Motley Fool·US·Read original
Summary · why it matters

Broadcom reported fiscal third-quarter results after the close on Sept. 2, posting non-GAAP earnings per share of $3.32 on revenue of $29.59 billion, beating analyst targets of $3.24 per share on $29.36 billion in sales. The stock fell anyway, as the company guided for $34.8 billion in current-quarter sales, below the $35.03 billion average target. More significant than either the beat or the guidance, Broadcom said on its conference call that sales to Anthropic are on track to surpass sales to Alphabet's Google division, making Anthropic its largest purchaser of XPU hardware in 2027. Broadcom already ships its Ironwood Tensor Processing Unit to both Alphabet and Anthropic, and it expects Anthropic's purchases of Ironwood TPU version 8i compute to expand from 1 gigawatt in 2026 to 5 gigawatts in 2027, while projected deployment of Jalapeno XPU chips to OpenAI is seen rising from 1.3 gigawatts in 2027 to 5 gigawatts in 2028. Broadcom projected adjusted earnings per share of more than $30 in fiscal 2028, far ahead of the $25 average estimate.

Impact on stocks 2

Artificial Intelligence▲ · 2 stocks
Broadcom Inc
AVGO
± MixedCapitalDemandrelevance

Broadcom guided for $34.8B current-quarter sales, below the $35.03B analyst target, and the stock fell.

Alphabet Inc Class C
GOOG
± MixedCompetitionrelevance

Broadcom said Anthropic will overtake Alphabet's Google as its top XPU customer, implying Google's relative share of Broadcom purchases shrinks.

Theme Impact 6

Off-coverage companies 2

AnthropicPrivate▲ Positive
Demandrelevance

Anthropic's Ironwood TPU 8i compute purchases are expected to grow from 1GW in 2026 to 5GW in 2027, making it Broadcom's largest customer.

OpenAIPrivate▲ Positive
Demandrelevance

Projected Jalapeno XPU deployment to OpenAI rises from 1.3GW in 2027 to 5GW in 2028, signaling growing OpenAI hardware purchases.

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