Mizuho is bullish on this major AI chip stock

Mizuho reiterated its Outperform on Broadcom after an investor call with management, citing an accelerating pipeline of custom AI chip deals that should drive substantial revenue upside. Key takeaways include a 3.5-gigawatt Anthropic TPU deal (deploying from 2027), an extended multi-generation MTIA partnership with Meta, and networking product strength as AI racks scale. Mizuho lifted its view of Broadcom-related AI revenue, noting consensus 2027 AI forecasts rose from about $100B to ~$120B and forecasting $101B for fiscal 2027 and $132B for fiscal 2028 (implying ~87% three‑year CAGR). Analysts flagged laser supply constraints but see VMware software as a high-margin, stable earnings pillar. Market impact: the note reinforces bullish sentiment for Broadcom and the broader AI chip/systems supply chain (positive for related names such as NVDA), supporting the case for continued sector outperformance on AI infrastructure demand.