Hock Tan

“Well, thank you, Ji, and thank you everyone here for joining us today. We delivered an exceptional quarter with revenue, operating income, and free cash flow, all exceeding prior records.”

“Driving this growth was AI Semiconductor Revenue at a record $10.8 billion, up 143%. Thank you, Jay. Thank you everyone for joining today. In our fiscal Q2, 2026, total revenue reached a record $22.2 billion, up 48% year-on-year, above our guidance on strength in AI semiconductors.”

“In our fiscal Q1, 2026 total revenue reached a record $19.3 billion, and that's up 29% year-on-year, and exceeding our guidance on the back of better-than-expected growth in AI semiconductors.”

“And before I get into details of that quarter, let me recap the year. In our fiscal 2025, consolidated revenue grew 24% year over year, to a record $64 billion, driven by AI semiconductors and VMware.”

“And thank you everyone for joining us today. In our fiscal Q3 2025, total revenue was a record $16 billion, up 22% year on year. Now revenue growth was driven by better than expected strength in AI semiconductors, and our continued growth in VMware.”