Broadcom CEO Says AI Revenue Targets Stand Despite Model Development Slowdown Fears

According to CNBC, Broadcom CEO Hock Tan said he has not changed his fiscal 2027 and 2028 AI semiconductor forecasts despite investor concern that a slowdown in frontier AI model development could curb chip demand. Tan said Broadcom still sees strong and durable demand for compute infrastructure, AI development, frontier models and inference, and he said Anthropic is on track to become Broadcom's largest custom chip customer in 2027 and remain so in 2028. On Broadcom's fiscal 2026 third-quarter earnings call on Sept. 2, Tan forecast AI semiconductor revenue of $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Broadcom shares fell 4.8% on Monday, while the iShares Semiconductor ETF dropped 5.6%.