Broadcom reported Q3 earnings that beat analyst expectations, but investors focused on a weaker forward guidance. More significantly, the company announced that Anthropic, maker of the Claude AI model, is on track to become its largest customer by 2027, surpassing Google, with purchases of Ironwood TPU chips expected to grow from 1 gigawatt in 2026 to 5 gigawatts in 2027.
Adobe faces a critical earnings report on Sept. 10 as generative AI reshapes its business. The stock is down 26% this year amid competition from AI tools and rivals like Canva and Figma, though Adobe's own Firefly AI model generated $500 million in annualized recurring revenue in Q2. Investors will watch whether Adobe can balance AI monetization with user acquisition through freemium offerings.