Anthropic's supplier has not revised its revenue forecasts due to a potential slowdown in the AI sector

Broadcom, a developer of chips, networking equipment, and software, will not revise its long-term revenue forecasts for artificial intelligence, despite the debate over a possible slowdown in the development of cutting-edge AI models. The company’s CEO, Hock Tan, made this statement during an appearance on CNBC, responding to a question about whether recent remarks by Anthropic CEO Dario Amodei had affected Broadcom’s plans.

The chipmaker's stock fell 4.77% on September 14 amid investor concerns about the development of AI. Broadcom's stock has already lost nearly 40% from its all-time closing high, reached in early June.

"No, absolutely not," Tan said in response to a question about whether discussions among top executives at leading U.S. AI labs regarding a slowdown in the pace of technological development had prompted Broadcom to revise its forecasts for fiscal years 2027 and 2028. “We see that demand for computing infrastructure—both for developing cutting-edge AI models and for inference (the process of using pre-trained AI models on a daily basis to generate responses for end users. — note by Oninvest) of the products these models offer the world — remains very strong and, I believe, quite resilient,” he added.

At the same time, Tan agreed that certain restrictions on AI are necessary, but made it clear that he is less concerned about the technology’s potential future development. “As with any tool, it’s important to establish rules and precautions for its use,” he said, emphasizing, however, that AI, in his view, “is not a living being that will spiral out of control on its own.”

The company’s CEO compared the development of artificial intelligence to the Industrial Revolution that began in England in the 18th century: “AI, generative AI, and the creation of these cutting-edge models… will generate immense value,” he said. “Ultimately, it remains a tool that will enable our society—and humanity—to reach a new, higher standard of living,” Tan added.

In early September, during a conference call to discuss the results of the third quarter of fiscal year 2026, Tan projected that the company’s revenue from AI chip sales would double—to $115 billion—in fiscal year 2027, and would double again—to $230 billion—in fiscal year 2028. During the most recent reporting period—the third quarter of fiscal year 2026—this figure for Broadcom rose 221% year-over-year to $16.7 billion. The upward revision of its forecasts for the coming years was one of the highlights of Broadcom’s latest financial report, according to CNBC.

During the conference call, the TV channel notes, Tan also stated that Anthropic is on track to become Broadcom’s largest customer for custom chips in fiscal year 2027 (the AI developer is expected to retain this position in fiscal year 2028, according to the company’s estimates). Previously, Google was considered Broadcom’s largest customer; the two companies are jointly developing tensor processors, CNBC notes.

Broadcom’s stock has remained virtually unchanged since the start of the year—following a surge in chipmaker stocks this spring and an equally sharp sell-off in July—and is currently trading 0.4% below its January price. Nevertheless, Wall Street views the company’s prospects positively: the chipmaker’s stock has 50 “buy” recommendations (Buy and Overweight ratings) and three “hold” recommendations. There are no “sell” recommendations. Analysts’ average price target for Broadcom shares—$533.52 per share—implies an increase of nearly 55% from the latest closing price.

This article was AI-translated and verified by a human editor