Broadcom Inc. (NASDAQ:AVGO) has extended CEO Hock Tan's leadership through 2030, rewarding the executive who has overseen a staggering 26,750% stock surge while steering the company into the heart of the artificial intelligence hardware race against Nvidia Corporation (NASDAQ:NVDA).
Hock Tan Secures Board Backing To Stay Through 2030
On Thursday, during Broadcom's fiscal third-quarter earnings call, Tan announced the board's decision, calling the next decade pivotal.
"The board and I have agreed that I will continue as the CEO of Broadcom through 2030, at least," he said. "These are exciting times for Broadcom and I'm very enthusiastic to continue to drive value for our shareholders."
Tan has led Broadcom since 2006 and sits on Meta Platforms, Inc.'s (NASDAQ:META) board of directors.
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Stock's Historic Performance Under Tan
Since Broadcom went public on Aug. 6 2009, shares have soared 26,750.9% when adjusted for splits and dividends, closing at $306.10 on Sept. 4, 2025.
Year-to-date, the stock has gained nearly 32%, including a 4.58% jump in after-hours trading on Thursday following the earnings release, according to data from Benzinga Pro.
Broadcom posted third-quarter revenue of $15.95 billion, above analyst estimates of $15.83 billion, with adjusted earnings of $1.69 per share, also topping forecasts.
Total revenue rose 22% year-over-year, fueled by demand for custom AI accelerators, networking solutions and VMware integration.
Broadcom Takes On Nvidia In AI Race
While Nvidia dominates the AI training market with GPUs, Broadcom is rapidly carving out a competitive edge in custom silicon and hyperscaler-grade networking.
The company's collaboration with Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google on the Ironwood TPU (TPUv6, 3 nm) is expected to generate $9 billion in near-term revenue and more than $15 billion over its lifecycle.
Analysts forecast Broadcom's AI revenue will rise 60% in fiscal 2025 to as much as $20 billion, climbing to $33 billion by 2026.
Broadcom's Tomahawk Ultra switch, capable of linking four times more chips than Nvidia's NVLink, underpins its networking strategy to power hyperscaler data centers at scale.
Strong Outlook Ahead
Looking ahead, Broadcom guided for fourth-quarter revenue of $17.4 billion, above Wall Street's $17.02 billion estimate, with adjusted EBITDA projected at 67% of revenue.
The board also approved a quarterly dividend of 59 cents per share, payable Sept. 30.
Benzinga's Edge Stock Rankings show that AVGO continues to post a strong upward trajectory over short, medium and long-term periods. More performance details can be found here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
