Broadcom CEO Hock Tan dismissed the possibility of acquiring Intel, stating that the company is not interested in “job-cutting” acquisitions. Instead, Broadcom aims to develop its own artificial intelligence (AI) chip by 2024. Tan emphasized that Broadcom’s strategy is to invest in its own engineering capabilities rather than relying on acquisitions. The company plans to leverage its expertise in networking and storage chips to create an AI chip tailored for data centers. Tan acknowledged the challenges of entering the AI chip market but expressed confidence in Broadcom’s ability to compete with established players like Nvidia and AMD. He highlighted the company’s strong cash flow and commitment to research and development as key advantages. Broadcom’s AI chip ambitions align with the growing demand for specialized hardware to power AI applications in various industries.
Source: https://www.businessinsider.com/broadcom-ceo-hock-tan-dismisses-intel-takeover-ai-chip-2024-12