Broadcom Inc. (NASDAQ:AVGO) will release its fiscal third‑quarter results after the market closes on Wednesday. Prediction markets already show a very high probability that the semiconductor giant will beat analysts’ estimates, so the focus is shifting to what Chief Executive Hock Tan says about Broadcom’s AI customers and the intensifying competition for Google’s custom‑chip business.
Polymarket assigns a 98 % chance that Broadcom will exceed its quarterly earnings, while Kalshi traders are speculating on which technologies and partners Tan will highlight during the 5 p.m. ET earnings call. Analysts forecast revenue of roughly $29.4 billion and adjusted earnings of $3.24 per share for the period. Broadcom has also guided AI‑semiconductor revenue to $16 billion, a more than 200 % year‑over‑year increase.
What Kalshi Predicts Broadcom Will Say
OpenAI is the top mention at 96 %. Broadcom turned OpenAI’s prototype inference chip, Jalapeño, into production silicon and built the associated networking and rack systems. OpenAI data suggests Jalapeño delivered up to 3.6 times lower end‑to‑end latency than Nvidia systems in internal tests, though the results have not been independently verified.
VMware trades at 94 %. Broadcom’s $69 billion acquisition of the software firm gives it a strong foothold in private‑cloud and virtualization platforms. Tan noted that the AI build‑out is also benefitting VMware as customers add more GPU‑heavy servers and private‑cloud infrastructure.
Anthropic sits at 92 %. Broadcom is providing Anthropic with more than 1 gigawatt of TPU‑based compute this year and plans to add another 5 gigawatts of next‑generation capacity starting in 2027.
Google trades at 84 %. Google’s TPU program helped Broadcom launch its custom AI‑chip business, and investors are watching for any signals that Google is shifting work to rival suppliers. Recent news that Alphabet expanded its chip partnership with Broadcom competitor Marvell sent Broadcom shares down more than 5 %, though JPMorgan notes Marvell has not yet won Google’s core TPU accelerator and Broadcom remains the volume partner for the next four TPU generations.
Tomahawk 6 sits at 75 %. Broadcom’s 100‑terabit Ethernet switch chip connects thousands of AI accelerators inside data centers, giving the company a revenue stream from AI infrastructure even when other firms supply the processors.
What Kalshi Predicts Broadcom Will Skip
The word “competition” trades at just 28 %, despite Google’s decision to add another custom‑chip partner being a key question for the earnings call. Last quarter Tan avoided using the term directly, referring instead to a “diversity of sources” when asked about Google’s supplier expansion.
Jericho 4 and Optic sit at 45 % and 39 % respectively. Both are part of Broadcom’s AI networking portfolio, but traders expect Tan to emphasize overall AI demand and customer momentum rather than detailed product talk.
Reading the Board
The near‑certainty of an earnings beat in the Polymarket data shows that meeting Wall Street estimates may no longer be enough to move AVGO shares higher.
JPMorgan forecasts fiscal 2027 AI revenue above $130 billion, outpacing Broadcom’s own guidance of more than $100 billion. Whether Tan can instill confidence in that growth trajectory and clarify Broadcom’s standing with Google may matter far more than the headline earnings number.
