Broadcom, a chip supplier for Apple and other large Technology companies, reported stronger-than-expected earnings for the fourth quarter, with growth buoyed by AI demand. The company stated in a release on Thursday that its EPS, excluding certain items, was $1.42. Revenue rose to nearly $14.1 billion. According to Bloomberg's aggregate data, the average forecast from Analysts was an EPS of $1.39 and revenue of $14.1 billion. Broadcom expects sales for the first quarter ending in January to reach $14.6 billion, in line with Analyst expectations. The Earnings Reports show that demand for AI computing is offsetting slowdowns in other areas. Like NVIDIA, Broadcom positions itself as a major beneficiary of AI spending. After the Earnings Reports were released, Broadcom's stock rose about 4% in after-hours trading. As of Thursday's close, the stock has increased by 62% year-to-date.