AI Accelerators and AI Networking Semiconductor Solutions revenue increased 79% year over year to $15.0B. Within Semiconductor Solutions, AI semiconductor revenue increased 143% to $10.8B, driven by increasing demand for custom AI Accelerators and AI Networking. Infrastructure Software revenue increased 9% to $7.2B, primarily driven by VMware Cloud Foundation. For Q3, Hock Tan, President and CEO of Broadcom, expects semiconductor revenue from AI to grow more than 200% year over year to $16.0B.
Network & AI Security Network & AI Security revenue increased 17% year over year to $2.3B. Cortex revenue increased 25% to $586M. Idira revenue increased 21% pro forma to $336M. Other revenue increased 5% to $157M. Network & AI Security represented 68% of revenue and was the largest reported platform. Management attributed the quarter’s strength to Network & AI Security, Cortex, and Idira.
Atlas Subscription revenue increased 31% year over year to $747.1 million. Within subscription, Atlas revenue increased approximately 29% to $565.9M, representing 76% of Subscription revenue, and Enterprise Advanced and other revenue increased 36% to $181.2M. Services revenue increased 29% to $24.6M. Management attributed Subscription growth primarily to increased Atlas consumption among large existing customers, alongside growth in Enterprise Advanced.
Department of War Defense and Intelligence revenue increased 5% year over year to $1.45B. Within Defense and Intelligence, Department of War revenue increased 7.17% to $986M, representing 68% of the division’s revenue. Civilian revenue increased 9% to $431M from $395M.
AI Cloud Services Bitcoin Mining revenue declined 63% year over year to $66.7M from $180.3M while AI Cloud Services revenue increased 907% to $70.5M from $7.0M. Q4 results reflected the transition from Bitcoin Mining to AI Cloud Services. IREN is targeting $4B of AI Cloud Services ARR to be operational by December 31, 2026.
Active Electrical Cables Credo Technology’s Q4 revenue increased 157% year over year to $437.0M. FY2026 revenue increased 206% to $1.34B, with the ramp-up of Active Electrical Cable (AEC) solutions at hyperscale data center customers contributing over 99% of the revenue increase.
AI Infrastructure Efficiency Nebius’s full stack infrastructure design targets AI compute efficiency to address power constraints as GPU workloads scale. The company’s infrastructure operates at a portfolio PUE of 1.25 versus a 1.54 global industry average, indicating approximately 19% lower total facility energy consumption for the same IT load and providing a measurable efficiency advantage as GPU infrastructure scales.
Identity Resilience Subscription revenue increased 37% year over year to $407.2 million. Within subscription, Management described Identity Resilience, a Rubrik Security Cloud capability, as one of the company’s fastest-growing product lines. Management reported Cloud ARR growth of 39% to $1.48 billion, with RSC included within the company’s Cloud ARR measure.
Elastic Cloud Elastic Cloud revenue increased 20% year over year to $235.2 million, Other Subscription Revenue increased 11% and Services revenue increased 10%. Elastic Cloud was the company’s fastest-growing reported revenue category.
Falcon Flex Subscription revenue increased 27% year over year to $1.4B and Professional Services revenue increased 7% to $70.6M. Module adoption rates for Subscription customers using six or more Falcon modules reached 51%. Falcon Flex ending ARR exceeded $2.29B, up 101% year over year.
