Broadcom Inc (NASDAQ: AVGO) shares moved higher after the company reported stronger than expected first quarter results and issued bullish guidance driven by surging AI demand. The semiconductor giant delivered a double beat and highlighted massive growth in AI infrastructure spending. Key numbers from the report: • Adjusted EPS: $2.05 vs $2.02 estimate • Revenue: $19.31B vs $19.19B estimate • Revenue growth: +29% year over year • AI revenue: $8.4B, up 106% YoY • Expected AI semiconductor revenue next quarter: $10.7B • Q2 revenue guidance: $22B vs $20.67B estimate • New share buyback authorization: $10B Broadcom CEO Hock Tan said strong demand for custom AI accelerators and AI networking is driving the company’s growth. With AI infrastructure spending accelerating across the tech sector, investors are watching whether Broadcom can continue capturing a larger share of the AI chip market. #Broadcom #AVGO #Earnings 🖥️ Try Benzinga Pro FREE with a 14 day trial: benzinga...