AI hype fuels record chip demand as earnings season stays red-hot

Earnings season stays extraordinary as Broadcom posts an 86% revenue jump and a near-double EPS surge, driven by hyperscaler demand for AI chips; Dell and Nvidia also boost outlooks, while HPE reports strong AI server demand and a rising backlog. Management foresees multi-year AI semiconductor demand running into the trillions in dollars, with Broadcom flagging roughly $350 billion to ship to key hyperscaler customers in the next two years. The window on AI spending remains wide open, and investors are eyeing tech conferences (including Goldman Sachs’ Communacopia) for more signs, with potential OpenAI and Anthropic IPOs on the horizon.