The chief executives of Intel and Broadcom tell a Singapore conference that capital, not chips, may be AI's biggest constraint

Broadcom's Hock Tan and Intel's Lip-Bu Tan spoke at a financial conference in Singapore on 12 October, SiliconANGLE reports. Hock Tan said access to capital “might be the biggest constraint” facing the industry. He said investors “set very extreme expectations only to find out that it's almost like they are in a casino.” Of OpenAI, he said: “For now it's still losing money because they're spending a lot on training.”

Calcalist reports that Hock Tan said demand for computing infrastructure exceeds what the industry can supply, a gap he expects to last through 2029 and possibly into 2030.

Lip-Bu Tan made the same point about money. Calcalist quotes him: “If there's any challenge in the front, it's capital and the cost of capital,” and says he added that in the long run “people want to see the ROI.” It also reports that he called adoption of Chinese frontier models, whose token costs are lower, “very fast”, and named DeepSeek, Kimi and GLM as “good enough” for some uses.

The remarks came as Asian chip stocks sold off on two straight days. No transcript or recording from the conference was visible from here, so the quotes are as the two outlets report them.

• Claimed Hock Tan said access to capital “might be the biggest constraint” facing the AI industry. SiliconANGLE
• Reported Calcalist reports Hock Tan said demand for computing infrastructure will exceed supply through 2029 and possibly into 2030. Calcalist
• Reported Calcalist reports Lip-Bu Tan said adoption of Chinese frontier models has been “very fast”, naming DeepSeek, Kimi and GLM as “good enough” for some uses. Calcalist