Broadcom AI chip forecast fiscal 2027 2028 doubles

The Broadcom AI chip forecast for fiscal 2027 and 2028 calls for custom AI chip revenue to double in fiscal 2027 and double again in fiscal 2028, according to Bloomberg Technology.

The numbers landed live on Bloomberg Tech with Ed Ludlow pressing why doubling was not enough for this market.

The full discussion can be found on Bloomberg Technology's YouTube channel.

What Broadcom actually promised

CEO Hock Tan told investors on the call that AI chip growth would double each year in fiscal 2027 and 2028.

On air, Ludlow quantified the guide as about $115 billion in fiscal 2027 and $230 billion in fiscal 2028.

The initial Q4 print and regular sales outlook looked lackluster, then the doubling guide briefly lifted the stock after hours before it faded.

Why the market sold off anyway

Shares were down about 6% the next session, on track for the biggest drop since the first week of June.

That reaction is striking because Nvidia now does roughly $100 billion in revenue per quarter, so even Broadcom's doubled target still trails the incumbent scale.

Bloomberg's Dina Bass said the bar was simply high and neither the near term numbers nor the longer doubling guide cleared it.

Where the growth is supposed to come from

Most of the projected AI chip growth is set to come from Anthropic and OpenAI, described as Broadcom's number one and two custom customers in 2027 and 2028 respectively.

Google remains the largest custom customer today via its TPU program but is expected to be overtaken, and Google just signed a deal with Marvell, a supplier backed by Nvidia.

That customer concentration and rising custom silicon competition explains why gains are chipping at Nvidia's lead only at the edges.

What to watch from here

The same episode noted NVIDIA acquires Hugging Face for about $13 billion, a reminder that platform control is being bought alongside silicon.

Wayve's London robotaxi push also highlighted world models as the software layer that will sit on top of whoever supplies the chips.

For Broadcom, delivery now hinges on multi-year supplier agreements that must turn demand that already outpaces supply into recognized revenue.

Doubling twice sounds massive until you map it against Nvidia's quarterly scale and two customers carrying the load.