Broadcom CEO Hock Tan reaffirms AI revenue targets amid market concerns

Wall Street spent the week panicking about an AI slowdown. Broadcom’s CEO essentially told everyone to calm down. Hock Tan appeared on CNBC’s “Mad Money” on September 14 and confirmed that the chipmaker’s AI semiconductor revenue guidance hasn’t budged. The targets: roughly $115 billion for fiscal 2027 and $230 billion for fiscal 2028. When asked if recent calls from AI leaders to pump the brakes on development had changed his outlook, Tan’s answer was blunt. “No, not in the least.” The reassurance came after Broadcom shares dropped 4.8%, swept up in a broader AI infrastructure selloff. That selloff was triggered by an open letter from Anthropic CEO Dario Amodei arguing for a more measured approach to AI development, a letter that drew support from Sam Altman and Elon Musk, among others. The numbers behind the confidence Tan’s conviction isn’t coming from thin air. Broadcom reported Q3 2026 AI semiconductor revenue of $16.7 billion, representing 221% year-over-year growth. The company also raised its full-year fiscal 2026 AI semiconductor guidance to $58 billion, up from a prior target of $56 billion. So while the rest of the market was digesting cautionary rhetoric from AI executi...