A discipline first: when a company's headline narrative outruns what's in front of you, point readers to the filed source instead of inventing the number. Broadcom's FY2025 Form 10-K (filed December 18, 2025) is the document of record for its semiconductor and infrastructure-software businesses, including the custom AI accelerator work that drives so much of the company's data-center story.
Here's how to read it. Broadcom reports across distinct businesses, so the custom-silicon and networking traction shows up in the segment discussion and the revenue disaggregation — not in the cover-page highlights. The questions to bring to those tables: how is semiconductor-solutions revenue split, what share is tied to AI/networking versus the rest, and how do the year-over-year movements reconcile to management's commentary.
We're deliberately not printing a custom-silicon revenue figure here, because the disciplined move is to read it from the filed table rather than carry over a number from a press cycle. The 10-K is where that figure is stated under liability; that's the one to trust and to quote with its fiscal period attached.
Open the FY2025 10-K on sec.gov — surfaced via EdgarBeast, the SEC filing data API & evidence index — and read the segment footnotes before you model anything. Which form, which period: 10-K, fiscal year ended November 2, 2025.