The global race to secure AI data center hardware is pushing custom chipmakers into record territory. Broadcom is scheduled to report its fiscal Q2 2026 financial results on Wednesday, June 3, according to Broadcom’s official investor relations schedule. Anticipation ahead of the call pushed the company’s shares to a new all-time high of $448.58 this week.
Multiple financial institutions issued upgraded price targets for the semiconductor manufacturer in recent days. Wells Fargo raised its target to $545, Aletheia Capital moved to $525, and Susquehanna adjusted its outlook to $490. The adjustments reflect increasing corporate demand for custom AI accelerators and networking silicon.
The current market activity follows Broadcom’s performance in the first quarter, where the company recorded $19.3 billion in revenue, a 29 percent year-over-year increase. The core driver of that growth was its AI semiconductor division. AI revenue reached $8.4 billion during the quarter, a 106 percent jump that positioned the firm alongside Nvidia and AMD in data center hardware supply.
How Anthropic’s $36 Billion Debt Deal Secures Broadcom’s Infrastructure Pipeline
Beyond immediate quarterly revenue, Broadcom is locking in long-term hardware supply contracts across the artificial intelligence sector. Apollo Global Management and Blackstone are currently organizing a $36 billion debt financing package to fund infrastructure for Anthropic PBC. Broadcom is directly involved in backstopping a large portion of the hardware requirements for this specific buildout.
The company is also securing alliances outside of traditional hyperscalers. Broadcom recently formalized a strategic chip partnership with AI hardware startup FuriosaAI. These institutional deals provide a predictable revenue floor, isolating the manufacturer from sudden shifts in consumer-level tech spending.