Broadcom CEO Hock Tan told CNBC on September 14 that the chipmaker's AI semiconductor revenue targets of $115 billion for fiscal 2027 and $230 billion for fiscal 2028 remain unchanged, pushing back after a selloff tied to Anthropic CEO Dario Amodei's call to slow AI development. Anthropic, the company whose essay triggered the drop, is also on track to become Broadcom's largest custom-chip customer.
Broadcom CEO Hock Tan said on September 14 that the company's AI revenue targets have not moved, pushing back against a selloff sparked by Anthropic CEO Dario Amodei's weekend essay arguing the AI industry should deliberately slow its pace of development. Asked on CNBC's "Mad Money" whether the AI-pacing debate had changed his outlook, Tan said: According to CNBC: "No, not in the least."
Shares fell 4.8% on September 14, part of a broader semiconductor selloff that sent the iShares Semiconductor ETF down 5.6% the same day.
Anthropic becomes the centerpiece customer
On its fiscal third-quarter call on September 2, Tan forecast AI semiconductor revenue rising to $115 billion in fiscal 2027, then doubling to $230 billion in fiscal 2028. He said Anthropic is on track to become Broadcom's largest custom-chip customer in 2027, with plans to deploy 5 gigawatts of Broadcom's next-generation TPU v8i chips in 2027 and a path to 10 more gigawatts in 2028.
That reliance cuts both ways. Amodei's essay, which argued for a more measured approach to AI development and drew support from Sam Altman and Elon Musk, is what triggered the very selloff Tan spent his CNBC appearance defusing.
A stock that swings on the gap between guidance and expectations
Broadcom's shares have moved sharply on Tan's public statements before. In June, the company reported record revenue and triple-digit AI sales growth, yet shares fell more than 12% in a single session after Tan reaffirmed the existing $100 billion AI semiconductor target instead of raising it. Hedge fund ownership in Broadcom slipped from 173 funds in the first quarter to 170 in the second. Short interest stayed low at 1.08% of the float.
The company's Q3 fiscal 2026 AI semiconductor revenue reached $16.7 billion, up 221% year-over-year. Broadcom also raised its full-year fiscal 2026 AI semiconductor guidance to $58 billion, from a prior $56 billion target.
Concentration risk is the wildcard
Because Anthropic is set to become Broadcom's single largest custom-chip customer, any shift in Anthropic's own capital spending plans would weigh on Broadcom's growth trajectory, regardless of how the broader AI-pacing debate plays out. Investors watching the fiscal fourth-quarter call may learn more about order patterns from Anthropic than from any further commentary on AI pacing.
Sources: Insider Monkey, Crypto Briefing
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