Broadcom Inc., a chip supplier for Apple Inc. and other big tech companies, posted better-than-expected profit in the fourth quarter after artificial intelligence demand helped bolster growth.

Profit was $1.42 a share in the period, excluding some items, the company said in a statement Thursday. Revenue rose to nearly $14.1 billion. Analysts had estimated $1.39 a share in earnings and revenue of $14.1 billion on average, according to data compiled by Bloomberg.