Broadcom ( AVGO ) reported fiscal first-quarter results that topped analysts’ expectations, sending shares higher in extended trading Thursday.

The chipmaker’s revenue grew 25% year-over-year to $14.92 billion, above the analyst consensus from Visible Alpha. Adjusted net income came in at $7.82 billion, up from $5.25 billion a year earlier and ahead of expectations.

The gains came as Broadcom's AI revenue surged 77% to $4.1 billion. CEO Hock Tan said the company expects "continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers."

Broadcom projected total second-quarter revenue of $14.9 billion, slightly above the analyst consensus of $14.82 billion.

The results also come after a report earlier this week that Broadcom has been running tests of Intel's ( INTC ) chipbuilding process for possible manufacturing contracts. Broadcom has reportedly considered buying Intel's chip design arm.

Shares of Broadcom jumped 9% in extended trading Thursday following the release. Despite a tough start to 2025, they've gained over 27% in the past 12 months through the closing bell.

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