Broadcom stock gains 3.35 percent on AI financing reports

Published on 10/03/2026 at 23:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Broadcom stock carried a USD 470 UBS target on October 2, 2026. Q3 revenue reached USD 29.59 billion, up 86 percent, while AI chip sales rose 221 percent.

Aquarellmalerei eines generischen kalifornischen Technologie-Campus mit Glasgebäuden und Palmen — Broadcom Inc. (US11135F1012): zarte Aquarell-Illustration eines kalifornischen Technologie-Campus mit Palmen und modernen Glasfassaden, Illustration mit AI erstellt.

Broadcom stock (ISIN US11135F1012) closed at USD 355.14 on Nasdaq on October 2, 2026, up 3.35 percent from the prior close of USD 343.64. MarketBeat linked the move to reports that banks were preparing up to USD 60 billion in financing for Anthropic and other AI customers to purchase or lease Broadcom chips.

AI demand drives the latest move

The financing story adds a commercial angle to Broadcom's already large AI opportunity. MarketBeat said the arrangement could improve visibility into future AI revenue, while also creating customer-concentration, credit and execution risks because the financing supports purchases of Broadcom products.

Broadcom's latest reported quarter provides the operating backdrop. According to Xinhua on September 2, 2026, fiscal Q3 revenue reached USD 29.59 billion for the quarter ended August 2, 2026, up 86 percent from the prior year. GAAP net income rose 216 percent to USD 13.09 billion, while diluted GAAP EPS increased to USD 2.68 from USD 0.85.

UBS keeps a USD 470 target

AI semiconductor revenue was the standout comparison in the quarter. Xinhua reported that it rose 221 percent year over year and 54 percent quarter over quarter to USD 16.7 billion, while Semiconductor Solutions revenue increased 127 percent to USD 20.84 billion.

According to Markets Insider on October 2, 2026, UBS analyst Timothy Arcuri reiterated a Buy rating and a USD 470 price target after a virtual management meeting. The target sits USD 114.86 above the October 2 closing price, a 32.3 percent premium.

Stock remains below its yearly high

Broadcom's USD 355.14 closing price was inside a USD 289.96 to USD 495.00 52-week range on October 2, 2026. The stock remained 28.3 percent below the high, while its market capitalization stood at USD 1.7 trillion and trading volume reached 24,509,128 shares.

The next scheduled reporting date is December 9, 2026. Benzinga reported that Broadcom plans to release its fiscal Q4 and full fiscal 2026 results after the market close on that date.