Broadcom's Hock Tan forecasts AI chip sales at $230 billion by F2028, from $2.6 billion

Broadcom's relationship with Google on custom TPUs stretches back seven years, including design help, TSMC foundry, and packaging. That base gave Broadcom a head start when the GenAI boom began, and the company now says the business has secured HBM memory, chip wafers, and packaging to fulfill its forecast. Tan told Wall Street not to expect quarterly updates to the forecast, a signal that he wants investors to focus on the multiyear trajectory rather than near-term swings.

The customer list behind that trajectory is unusually concentrated. Google, Anthropic, OpenAI, and Meta Platforms are named as customers, with the other two XPU customers possibly ByteDance or Apple. Anthropic is set to deploy 1 gigawatt of Ironwood TPU 7 this year and 5 gigawatts of TPU 8i in 2027, making it Broadcom's largest XPU customer in 2027 by Tan's account. OpenAI is on track for 1.3 gigawatts of Jalapeno clusters in 2027 and another 5 gigawatts in 2028, which would make OpenAI the second biggest and push Google to number three.

The outcome hinges on whether Broadcom can convert these gigawatt commitments into shipped systems, and whether Nvidia's grip on cloud customers keeps Google from buying more TPUs for itself. Broadcom's Q3 F2026 results already show the financial weight of this shift: semiconductor solutions sales were $20.84 billion, up 127.4 percent, and AI-related revenue hit $16.74 billion. If the $230 billion forecast holds, Broadcom's role as a chip shepherd for tech titans could look less like a supplier story and more like a structural counterweight to Nvidia, though Tan's numbers assume capacity additions that are not yet built.