Broadcom CEO Hock Tan shifts strategy from acquisitions to AI organic growth, projecting AI semiconductor revenue to surpass $100 billion by fiscal 2027.

Broadcom's AI chip sales are growing rapidly, with a projected $40 billion in revenue this fiscal year and a $73 billion backlog.

Broadcom forecast that AI semiconductor revenue will be $16 billion in Q3, missing analyst estimates of $17.2 billion.