Mizuho reaffirmed Outperform on Broadcom after meeting its CEOs, citing an accelerating AI chip pipeline and strong future partnerships.
Highlighted a 3.5‑GW Anthropic TPU v8 deal launching 2027 and a Meta MTIA multi‑GW program through 2029, estimating $25 bn per GW tailwind.
Forecast AI revenue to rise to $101 bn in FY27 and $132 bn in FY28, implying roughly an 87% three‑year compound annual growth rate.
Noted VMware software segment delivering high‑single‑digit to low‑double‑digit growth with about 80% operating margins, while laser supply remains very tight.