Broadcom Inc

**Strong Financial Performance**: Broadcom reported Q3 FY2024 consolidated net revenue of $13.1 billion, up 47% year-on-year, with operating profit increasing 44% year-on-year. This robust performance was largely driven by significant growth in AI revenue, VMware contributions, and stability in non-AI semiconductor revenue.

**AI Revenue Outlook**: AI revenue is anticipated to grow to $12 billion for FY2024, up from previous guidance of over $11 billion, with a forecast of approximately $3.5 billion for Q4 FY2024, reflecting a 10% sequential growth. In Q3, AI revenue was about $3.1 billion, consistent with expectations, dominated by hyperscaler demand.

**Software Segment Growth**: The infrastructure software segment revenue reached $5.8 billion in Q3, up 200% year-on-year, mainly driven by VMware’s performance. The company is on track to achieve operating margins in the high 60s for the software segment due to ongoing cost management and a shift towards subscription-based models.