The Globe and Mail reports in its Friday edition that Broadcom is projecting first-quarter revenue above Wall Street estimates, betting that sustained, robust demand for its artificial-intelligence chips would power another year of growth and help quell investor worries of a spending slowdown. A Reuters dispatch to The Globe says shares of the Palo Alto, Calif., company rose more than 2 per cent in extended trading. Broadcom chief executive officer Hock Tan said in a statement that Broadcom's AI semiconductor revenue -- which encompasses both the custom chips it helps companies such as Google to build, as well as networking chips used in AI data centres -- is expected to double to $8.2-billion in the first quarter (all figures U.S.). The company has emerged as a major beneficiary of the tech industry's rush to build out AI capabilities. The company supplies high-speed networking chips that are critical for moving vast amounts of data within AI data centres. Broadcom works with hyperscale cloud providers such as Google and Meta Platforms to design and manufacture custom AI processors, known as ASICs, providing a key alternative to Nvidia's GPUs. Broadcom forecast revenue of about $19.1-billion for the quarter.