3 Semiconductor Stocks to Buy Before AI Demand Explodes in September

AI infrastructure spending keeps accelerating. Hyperscalers keep pulling forward orders for custom accelerators, high-bandwidth memory, and high-speed networking silicon, and the three semiconductor names below all delivered raised guidance in their most recent earnings reports. Chip stocks wobbled this week after some tech leaders called for an AI development slowdown, but the rebound the next session, per MarketWatch reporting that one analyst sees no spending slowdown in sight, tells the more relevant story for investors deciding what to own into fall.

Here are three AI infrastructure names worth studying before demand accelerates further in September. Chipmakers are only half the trade; the power, cooling, and networking suppliers behind the data centers are the other half, and we rounded up seven of them in a free report you can grab here.

Broadcom: Custom Silicon Trajectory Keeps Widening

Broadcom (NASDAQ:AVGO | AVGO Price Prediction) reported fiscal Q3 2026 revenue of $29.59 billion, up 85.5% year over year, with non-GAAP EPS of $3.32 versus a $3.24 estimate. AI semiconductor revenue reached $16.7 billion, up 221% year on year and 54% sequentially, and now represents 56% of total revenue, up from 49% in Q2.

The forward numbers are what make the thesis. Management guided Q4 AI semiconductor revenue to $21.7 billion, up 236% year over year, and outlined a multi-year trajectory that reaches approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. That visibility is anchored by six named XPU customers, including a long-term Google TPU agreement management said would deliver "multi-tens of billions of dollars of TPUs annually over the next several years" and a 1.3 gigawatt Jalapeno deployment planned for OpenAI in 2027. CEO Hock Tan told analysts that "Q3 demand was simply hot and we're just getting started."

Shares are down 1.61% year to date at $339.27, following a 13.67% one-month pullback. Market cap sits near $1.62 trillion.

Risk: Rising XPU mix is a margin headwind. Q4 consolidated gross margin is expected to be approximately 73%, compared with 78% a year ago, as memory content grows inside custom accelerator revenue.

Micron: Capex Commitment Backs the Memory Cycle

Micron Technology (NASDAQ:MU) posted fiscal Q3 2026 revenue of $41.46 billion, up 345.7% year over year, beating consensus by 17.60%, with non-GAAP EPS of $25.11 versus a $20.28 estimate. Data-center revenue exceeded $25 billion in fiscal Q3, an annualized run rate of over $100 billion.

The bull case is the supply-demand mismatch and Micron’s willingness to build for it. Management guided fiscal Q4 revenue to $50.0 billion plus or minus $1.0 billion with gross margin near 86%, and outlined full-year fiscal 2026 capital spending of approximately $27 billion, with fiscal 2027 capex expected above fiscal Q4 levels. HBM4 12-high is ramping twice as fast as HBM3E 12-high, and Micron has already shipped over $1 billion in HBM4 revenue. CEO Sanjay Mehrotra said "AI has elevated the value of memory," and that industry tightness should persist beyond calendar 2027. The 16 Strategic Customer Agreements, mostly five-year take-or-pay contracts covering roughly 20% of DRAM volume and a third of NAND volume, give unusual visibility for a memory maker.

Shares are up 225.21% year to date at $927.60. Micron’s fiscal Q4 report is expected near the end of this month, though the company has not publicly confirmed a fixed date.

Risk: Capex intensity is climbing, with Q4 capex around $10 billion. Any softening in AI infrastructure spend would pressure returns on that build, and a Reuters report notes the Taiwan union is keeping strike preparations alive over profit-sharing.

Marvell: Custom Silicon Reset Just Went Higher

Marvell Technology (NASDAQ:MRVL) reported Q2 FY2027 revenue of $2.739 billion, up 36.5% year over year, with data center revenue of $2.17 billion, up 46% year over year and now 79% of total revenue. On the call, management raised the fiscal 2027 data-center growth outlook to approximately 60%, from approximately 50% previously, and now expects fiscal 2028 data-center revenue to grow more than 60% year over year. CEO Matt Murphy said "AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027."

The reset is credible because it is broad-based. Growth spans interconnect, switching, custom silicon, optical DSPs, and scale-up networking, and Marvell’s expanded custom program with Google carries a warrant for Google to acquire up to 7% of Marvell shares tied to revenue milestones. Analysts have followed: the fiscal 2028 EPS consensus has moved to $6.7199 from $6.1726 ninety days ago, with 28 upward revisions in the trailing seven days. Investor Day on October 6, 2026 is the next catalyst.

The stock’s post-earnings reaction was uneven, with a -10.28% day-of move followed by a 3.2% one-week recovery, but shares are still up 161.26% year to date at $221.70.

Risk: Customer concentration remains the swing factor. A single hyperscaler pulling volumes in or pushing them out can move the entire model, and Marvell carries roughly $4.96 billion in long-term debt.

What to Watch Into Late September

Broadcom has already delivered the trajectory. Marvell has just raised. Micron’s fiscal Q4 report, expected late this month, is the next real test of whether hyperscaler capex is holding through year-end. If it lands anywhere near the $50 billion revenue guide, the AI infrastructure trade has more room, and the September dip in these three names looks like a constructive setup for the next leg.

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