Broadcom now expects fiscal 2024 AI revenues of roughly $10 billion (higher than previous guidance of $7.5 billion) and to account for 35% of semiconductor revenues (higher than previous guidance of 25%). Networking revenues are expected to rally 35% year over year, driven by the accelerating deployment of networking connectivity and the expansion of AI accelerators within hyperscalers. For fiscal 2024, AVGO still expects revenues of $50 billion and adjusted EBITDA margin of 60%. The Zacks Consensus Estimate for fiscal 2024 is pegged at $50.24 billion, suggesting growth of 40.26% year over year.