Alphabet's AI Demand Spurs Broadcom's 106% Revenue Surge; Burry Sells Stake
Alphabet's rising AI workloads have driven Broadcom's AI chip revenue up 106% to $8.4 billion and secured TSMC manufacturing through 2028. Hedge fund manager Michael Burry liquidated his Alphabet position in Q1 2024 as part of broader portfolio de-risking.
1. Google's AI Workloads Boost Broadcom Revenue
Broadcom posted fiscal Q1 revenue of $19.31 billion, up 29% year-over-year, with AI chip revenue jumping 106% to $8.4 billion. The company secured high-bandwidth memory and advanced-node manufacturing capacity at TSMC through 2028, citing strong demand from major customers including Alphabet’s Google.
2. Michael Burry Exits Alphabet Position
Scion Asset Management sold its entire Alphabet stake in Q1 2024, marking a shift away from U.S. tech names. The liquidation formed part of a broader de-risking move that saw increased allocations to Chinese equities and precious metals exposure.