Broadcom said it will make the next generation of custom AI chips for "hyperscaler" clients, which are widely considered to be Alphabet's Google and Meta Platforms. The company said in March it added a third custom AI chip customer. "We continue to see Broadcom as incredibly well-positioned to benefit from rising generative AI investment in the long term," Morningstar analysts said. Broadcom's software division benefited from its buyout of VMware, which added $2.7 billion to its second-quarter revenue. "After this stunning earnings report and a 10-for-1 stock split announcement.