Broadcom CEO Hock Tan stated that access to capital, rather than chip supply or electricity, may become the primary constraint for AI infrastructure expansion. Speaking at the DBS Asia Future Forward Conference on October 12, 2026, Tan noted that while supply chain issues are easing, the financing of data centers remains a significant challenge.
Despite these concerns, Broadcom maintains that demand for compute will remain robust until at least 2030. The company has raised its fiscal 2026 AI semiconductor revenue guidance to $58 billion. Projections for subsequent years are set at $115 billion for fiscal 2027 and $230 billion for fiscal 2028.
Broadcom's AI revenue is highly concentrated, with nearly all earnings derived from six main customers, including Google and OpenAI. Anthropic is expected to become the company's largest custom-chip client by 2027–2028, supported by financing from partners such as Apollo and Blackstone.
On September 15, 2026, Broadcom shares declined by approximately 4.8% following cautionary remarks from other industry leaders regarding the pace of AI development. Tan’s outlook contrasts with this market anxiety, as he emphasizes the strength of demand while highlighting the risks associated with long-term capital availability.
