Broadcom CEO Reports $22B Record Q2 Revenue, Discloses OpenAI Chip Mass Production by Year-End

On Friday (June 5) at the Bloomberg Technology Summit in San Francisco, Broadcom CEO Hock Tan dismissed market concerns over the stock's post-earnings decline, stating he does not focus on share prices but rather on fundamentals and creating value.

The company reported record fiscal Q2 2026 net revenue of $22 billion, up 48% year-over-year, with AI semiconductor revenue surging nearly 80%. However, forward guidance of $16 billion for Q3 AI chip revenue fell slightly short of analyst expectations above $17 billion, triggering a post-market decline exceeding 10%. Tan disclosed Broadcom has six custom chip customers at various development stages, including Google and OpenAI. He revealed that OpenAI's AI accelerator chips will enter mass production later this year and stated no Microsoft approval is required for the collaboration to proceed.