Earlier this month, Broadcom entered a multiyear, $30 billion deal with Apple to design and produce custom silicon components and wireless connectivity technologies for Apple products. In its second-quarter earnings announcement, Broadcom reported record revenue of $22.2 billion, along with record operating profit and free cash flow. It attributed these results to “accelerating growth in AI semiconductor revenue and strong operating leverage.” Record semiconductor earnings were led by the segment’s memory business, which saw “increased sales of high-value-added AI products,” Samsung said. It added that it expects strong memory demand to continue in Q2 as a result of AI infrastructure expansion.