Broadcom Eyes $12B in AI Chip Revenue for 2024, Hyperscaler Spending Surge: Goldman Sachs
Broadcom Eyes $12B in AI Chip Revenue for 2024, Hyperscaler Spending Surge: Goldman Sachs
Goldman Sachs analyst Toshiya Hari reiterated a Buy rating on Broadcom Inc (NASDAQ:AVGO) with a price target of $190.
高盛分析師Toshiya Hari重申了對Broadcom Inc (納斯達克: AVGO)的買入評級，目標價爲190美元。
Hari listed his critical takeaways from Broadcom President Dr. Charlie Kawwas' presentation at the Communacopia & Technology Conference 2024.
Hari在Communacopia&Technology Conference 2024上列出了他對Broadcom總裁Dr. Charlie Kawwas演講的重要觀點。
Dr. Kawwas expects increased spending by the large Tier-1 hyperscalers will drive growth in Broadcom's AI semiconductor business in fiscal 2025.
Dr. Kawwas預計大型Tier-1超大規模雲計算公司的支出將推動Broadcom在2025財年的人工智能半導體業務增長。
Broadcom has positively revised its fiscal 2024 AI semiconductor revenue outlook from $7.5 billion at the beginning of fiscal 2024 to $12 billion as of last week, Hari cited Dr. Kawwas.
Hari引述Dr. Kawwas的話稱，Broadcom將其2024財年的人工智能半導體業務收入預期從2024財年初的7.5億美元修正爲上週的12億美元。
Dr. Kawwas reiterated Broadcom's deep focus on markets where they can build a sustainable franchise founded on technological leadership. Dr. Kawwas shared that Broadcom has a central engineering team that develops foundational technologies like SerDes IP, which the various franchises that comprise Broadcom's Semiconductor Solutions business leverage.
Dr. Kawwas重申了Broadcom專注於可以建立在技術領導力基礎上的可持續領域的戰略。Dr. Kawwas透露，Broadcom有一箇中央工程團隊開發基礎技術，如SerDes IP，各個構成Broadcom半導體解決方案業務的子公司都會利用這些技術。
By operating with this structure, Broadcom has been able to, for example, reduce the custom accelerator (i.e., XPU) development cycle from ~3 years to less than a year, Hari cited Dr. Kawwas.
Hari引述Dr. Kawwas的話稱，通過這種結構，Broadcom能夠縮短定製加速器（即XPU）的開發週期，從約3年縮短到不到1年。
Dr. Kawwas noted that custom accelerators have benefits over merchant solutions (i.e., GPUs), particularly when addressing internal workloads at hyperscalers with consumer platforms, particularly in reduced capital spending and power consumption.
Dr. Kawwas指出，在解決超大規模雲計算公司的內部工作負載時，定製加速器相比商業解決方案（即GPU）具有優勢，尤其在降低資本支出和功耗方面。
Ethernet will prevail as the preferred AI networking protocol for hyperscalers due to its open-sourced nature and superior power efficiency, Hari cited Dr. Kawwas.
Hari引述Dr. Kawwas的話稱，由於以太網具有開放源代碼的特性和卓越的功耗效率，以太網將成爲超大規模雲計算公司首選的人工智能網絡協議。
Dr. Kawwas said Broadcom's 2nd-generation Co-Packaged Optics (CPO) product will be in volume production by the end of calendar years 2025 or 2026.
博通的第二代共封裝光學（CPO）產品將在2025年或2026年年底開始大批量生產。
He showcased Broadcom's 2nd-generation CPO solution, which runs on 5kW and has the potential to replace 128 800G pluggable transceivers that each consume 15kW-16kW.
他展示了博通的第二代CPO解決方案，該解決方案運行在5kW上，並有可能取代每個消耗15kW-16kW的128個800G可插拔收發器。
Hari cited Dr. Kawwas as saying Broadcom is currently in the proof of concept (POC) stage with three hyper-scale customers, with an expectation for initial deployment for live traffic in the first half of 2025.
Hari引述博通的Kawwas博士表示，博通目前與三個超大規模客戶在概念驗證（POC）階段，預計在2025年上半年開始進行實際交通的初步部署。
Hari projects fiscal 2024 revenue of $51.8 billion and adjusted EPS of $3.88.
Hari預計2024財年營業收入爲518億美元，調整後每股收益爲3.88美元。
Price Action: AVGO stock traded higher by 0.86% at $165.98 premarket at the last check on Friday.
價格走勢：上週五最後一次檢查時，AVGO股票以0.86%的漲幅以165.98美元的價格高於盤前交易。
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譯文內容由第三人軟體翻譯。