If you want to see Hock Tan in Vegas, you’d better step on it.
Tan, CEO and president of Broadcom (AVGO) , is scheduled o speak at VMware Explore 2025, taking place August 25-28 at The Venetian Convention and Expo Center in Las Vegas.
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The event will feature a variety of breakout sessions and panel discussions, expert roundtables, certification training and hands-on labs spanning relevant technology and industry topics, all targeted at the IT practitioner, the chipmaker said.
Tan is slated to speak on Aug. 26 during the general session keynote titled “Shaping the Future of Private Cloud and AI Innovation.”
The 60-minute keynote will feature Broadcom leaders, VMware experts, and customers showcasing advancements across private cloud, private AI, and more.
Broadcom acquired cloud-computing company VMware in November 2023 in a $61 billion deal.
During the company's second-quarter earnings call in June, Tan told analysts that revenue had surged 20% from a year ago.
Broadcom CEO cites growing revenue
“This 20% year on year growth was all organic, as Q2 last year was the first full quarter with VMware,” he said. “Now revenue was driven by continued strength in AI semiconductors and the momentum we have achieved in VMware.”
He noted that Broadcom has much of the integration of VMware, “and you can see that in the level of free cash flow we're generating from operations.”
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Tan said that semiconductor revenue for the quarter was $8.4 billion, with growth accelerating to 17% year on year.
“And of course, driving this growth was AI semiconductor revenue of over $4.4 billion, which was up 46% year on year and continues the trajectory of nine consecutive quarters of strong growth,” he said.
Custom AI accelerators, which are designed to provide elevated processing power for AI tasks, grew double digits year on year, Tan said, while AI networking grew over 70%.
Broadcom said in June that it was shipping Tomahawk 6, the company's sixth-generation Ethernet switch chip designed for large-scale AI and cloud data centers.
“Tomahawk 6 enables clusters of more than 100,000 AI accelerators to be deployed in just two tiers instead of three,” Tan said.
“This flattening of the AI cluster is huge because it enables much better performance in training next-generation frontier models through a lower latency, higher bandwidth, and lower power.
Broadcom, which produces custom silicon chips and infrastructure software products, has seen its shares climb nearly 28% in 2025 and the stock has jumped 78% from a year ago.
The company, however, has been operating in the shadow of AI chipmaking monster Nvidia (NVDA) , which, with a market capitalization of $4.42 trillion, is the most valuable company on earth.
Analyst bullish on Broadcom's earnings
There are those who believe that Broadcom could be a likely winner in the coming year.
TheStreet Pro’s Bob Lang said on Aug. 21 that Broadcom is “one of those names that is persistently in an uptrend.”
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“We are watching Broadcom from the sidelines as it remains in our Bullpen,” he said, referring to TheStreet Pro's actively managed Portfolio.
Analysts at TD Cowen had a different point of view. The firm recently raised its price target on Nvidia to $235 from $175 and kept a buy rating on the shares, according to The Fly.
Nvidia shares trade at a discount to Broadcom despite offering a “cleaner set-up,” the firm said.
TD believes Nvidia, which is scheduled to report earnings on Aug. 27, remains the “best and cleanest way” to gain exposure to artificial intelligence. It said the company is positioned to beat high expectations into earnings.
Broadcom is scheduled to report third-quarter results on Sept, 4.
Piper Sandler recently raised the firm's price target on Broadcom to $315 from $300 and kept an overweight rating on the shares.
The firm said that it was bullish on Broadcom's prospects into the October quarter around both the core semiconductor business and the infrastructure software segments.
Piper said that it continues to view Broadcom as well-positioned in the AI landscape.
On Aug. 25, UBS analyst Timothy Arcuri raised the firm's price target on Broadcom to $345 from $290 and kept a buy rating on the shares.
A consensus of analysts expect the firm to earn $1.66 per share on $15.82 billion in revenue.
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