07:30 AM EDT, 09/05/2025 (MT Newswires) -- Broadcom ( AVGO ) said late Thursday it expected its fiscal 2026 artificial intelligence revenue outlook to improve "significantly" after it secured more than $10 billion of orders of AI racks from a new customer.

"Last quarter, one of these prospects released production orders to Broadcom ( AVGO ), and we have accordingly characterized them as a qualified customer for XPUs, and, in fact, has secured over $10 billion of orders of AI racks based on our XPUs," Broadcom ( AVGO ) Chief Executive Hock Tan said on an earnings conference call, according to a FactSet transcript. "Reflecting this, we now expect the outlook for fiscal 2026 AI revenue to improve significantly from what we had indicated last quarter."

Tan told analysts that he will continue as the CEO of Broadcom ( AVGO ) through 2030 at least.

The company's shares were up nearly 11% in recent premarket activity Friday.