Form 10-Q · Quarterly report
Broadcom 10-Q, filed Sep 10, 2026
- Filed
- CIK
- 0001730168
- Accession no.
- 0001730168-26-000080
Summary
Broadcom reported fiscal third-quarter net revenue of $29.6 billion, up from $15.9 billion a year earlier, and operating income of $16.0 billion, alongside the disclosure that it launched an "AI XPV" financing platform in June 2026 with a $35 billion initial tranche to fund more than 1 gigawatt of custom AI accelerator compute for a customer. Broadcom said the platform is intended to enable more than 20 gigawatts of compute capacity through 2028 with financial partners, and disclosed a backstop agreement whose maximum potential liability would be about $29 billion if that customer defaults on its leases.
Key points
- Broadcom generated $14.2 billion of cash from operations in the quarter ended August 2, 2026, paid $3.1 billion in dividends and repurchased $5.6 billion of senior notes.
- One distributor customer accounted for 50% of net revenue in the quarter and 46% over three fiscal quarters; the top five end customers accounted for roughly 55% and 50%, respectively.
- The AI XPV platform's initial $35 billion tranche, led by a financial partner, covers agreements to purchase AI racks with Broadcom-designed custom accelerators and related customer leases.
- Broadcom said the backstop liability would cover any gap between 85% of outstanding lease amounts and the resale value of the AI racks, and that no amounts have been paid under it.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Overview We are a global technology leader that designs, develops and supplies a broad range of semiconductor and semiconductor-based solutions and infrastructure software solutions. Our semiconductor and semiconductor-based solutions include a broad portfolio of complex digital and mixed signal devices based on silicon wafers with complementary metal oxide semiconductor transistors, III-V based devices, network interface cards and other modules, switches, subsystems and, in some cases, racks. …
An excerpt of the text as filed with the SEC, cut for length.
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