Broadcom CEO dismisses Intel takeover rumors and focuses on AI growth

Broadcom CEO Hock Tan has dismissed rumors of a takeover bid for Intel, stating he is focused on the company's growth in the AI sector. He emphasized that Broadcom is currently too busy to consider any hostile offers. Broadcom's market value has surged to $1 trillion, driven by a 220% increase in AI-related revenues. In contrast, Intel's value has dropped to $82 billion, and its CEO recently announced his retirement amid ongoing struggles in the competitive AI market. Tan noted that he would only consider a deal if approached directly, following past experiences with hostile takeovers. Intel's challenges have sparked speculation about potential buyers, but interest appears to be waning.