Broadcom ( AVGO -2.91%), the semiconductor company that's profited so much from the artificial intelligence (AI) revolution of late, saw its stock slump 3% through 10 a.m. ET this morning after reporting that it beat earnings last night... just barely.

Broadcom’s overall guidance may not have wowed Wall Street after the stock’s big recent run, but “AI is strong and getting stronger,” one analyst noted.

Broadcom shares traded lower Friday following a mixed set of fiscal second-quarter earnings that should still underscore the semiconductor and software company’s compelling position in the artificial-intelligence-investment race.