The package underscores Broadcom’s mission to become a major player in the world of artificial intelligence computing. The company has been offering its custom-made chips as an alternative to processors sold by Nvidia, which dominates the AI semiconductor industry.
Broadcom CEO Hock Tan has a clause in his contract extension that would bring hundreds of millions of dollars in stock compensation if the company reaches US$120 billion ($154.02 billion) in artificial intelligence product sales by 2030.
The executive is due to get 610,521 shares of Broadcom if AI revenue hits US$90 billion by fiscal 2030, according to a regulatory filing on Tuesday. That would be worth about US$205.5 million at today’s stock prices. If the sales reach US$120 billion, Tan is poised for 300% of the payout, or about US$616.6 million at current levels.
