Broadcom's CEO expects that the company's sales of artificial intelligence chips will exceed $100 billion next year.

Broadcom CEO Hock Tan said that he expects the company's sales of artificial intelligence chips to exceed $100 billion next year, marking a significant progress in the field dominated by Nvidia. "We are confident" to achieve this milestone by 2027," he said in a conference call with analysts. "We have also ensured the supply chain needed to achieve this goal." Broadcom expects revenue from artificial intelligence chips to reach $10.7 billion this quarter, so reaching the $100 billion annual revenue target will be a significant leap. Boosted by his remarks, the company's stock price rose by about 5% in late trading.