Broadcom shares are up 5% due to CEO Hock Tan's convincing argument for why AI growth will last, contrasting with Nvidia's recent performance despite a strong report.

Broadcom's AI revenue more than doubled, software business won't be negatively impacted by AI, and CEO gave line of sight to >$100B in AI chip revenue by 2027, exceeding bullish analyst models.

Two key concerns addressed: 1) Margins won't be dragged down by shipping more AI racks, 2) Risk of hyperscalers designing own chips is mitigated by complexity of competing with Nvidia.

Hock Tan pushed back hard on customer-owned tooling risk, saying complexity of competing with Nvidia makes it nearly impossible for years to come.

OpenAI confirmed as sixth customer, memory supply locked through 2028 - first time hearing any company plan that far ahead.

Move rippling through related names: Credo up 10%, Amphenol up 3% benefiting from Broadcom signal that customers prefer copper over optical connectivity; Lumentum and Coherent down on same commentary.