Broadcom Earnings: Stock Rises 5% to Record High

Broadcom earnings are due after the market close on Wednesday, and the stock had already climbed 5% to a record high on Tuesday. The move came as Alphabet laid out an $80 billion plan to raise equity capital for AI infrastructure and compute, while Jensen Huang called Marvell Technology "going to be the next trillion-dollar company."

Alphabet's $80 billion AI raise

$80 billion in planned equity funding was the first catalyst. Alphabet said after Monday’s close that it will use the money to expand AI infrastructure and compute, with $10 billion tied to a private stock placement with Berkshire Hathaway, $30 billion set aside for several large investment banks to sell to clients, and the remaining $40 billion to come from sales of Class A and Class C shares in the open market beginning in the third quarter.

5% was enough to push Broadcom to a record high on Tuesday because investors immediately linked the spending plan to the companies that supply the hardware behind AI buildouts. Broadcom is a leading provider of Application-Specific Integrated Circuits and helps design and manufacture the high-performance cores that power Google’s TPUs.

Jensen Huang backs Marvell

61% was Marvell Technology's gain over the past two days, after Huang appeared with Marvell CEO Matt Murphy at Nvidia's GPU Technology Conference in Taipei on Monday and said Marvell is "going to be the next trillion-dollar company." Marvell started the week with a market value of $179 billion, and the jump put a direct spotlight on custom-chip suppliers that compete for the same AI workloads.

Broadcom and Marvell compete head-to-head in designing custom data center processors, so Huang’s comment did more than lift one stock. It sharpened the comparison between two firms that sell into the same spending cycle, and it gave traders another reason to keep pricing in AI demand before Broadcom reports.

Broadcom's $19.3 billion quarter

$19.3 billion in revenue and $2.05 in adjusted earnings per share were Broadcom's fiscal 2026 first-quarter results ended Feb. 1. Revenue grew 29% year over year, and adjusted EPS rose 28% year over year, giving the stock a recent operating base that already showed heavy AI demand before Tuesday's move.

Wednesday now carries the next test for that valuation. If Broadcom matches the pace of its first quarter, the stock has room to hold its record; if the company falls short, the market will have to decide whether the rally was driven more by Alphabet's spending plan and Huang's comments than by Broadcom's own numbers.