The American chipmaker Broadcom reported a 48% revenue surge and AI semiconductor sales up 143%, but its refusal to raise its long-term sales target sent shares tumbling more than 12% in after-hours trading.

Broadcom's AI chip sales are growing rapidly, with a projected $40 billion in revenue this fiscal year and a $73 billion backlog.

(Corrects to say adjusted profit beat estimates, not trailed, in paragraph 7)June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting…