Apple and Broadcom Expand Partnership With $30 Billion Chip Deal Through 2031

Apple has committed over $30 billion to Broadcom through 2031, covering the production of 15 billion custom AI chips for its devices. The long-term deal significantly reduces Broadcom's customer concentration risk, as Apple accounts for roughly 20% of the company's revenue.

Why it matters: Broadcom's AI semiconductor revenue surged 143% year over year in Q2 fiscal 2026, with total revenue reaching $22.2 billion, and the company projects AI chip revenue to grow over 200% in the upcoming quarter.