Broadcom's Chief Executive Hock Tan stated that the company anticipates its artificial intelligence chip sales will surpass $100 billion next year, signaling significant progress in a market largely dominated by Nvidia.

"We are confident" about reaching this milestone by 2027, he remarked during a conference call with analysts. "We have also secured the necessary supply chain to achieve this target."

Broadcom expects AI chip revenue to reach $10.7 billion this quarter, meaning that hitting the $100 billion annual revenue goal would represent a substantial increase. Following his remarks, the company's stock rose approximately 4% in after-hours trading.