Broadcom CEO compares AI investors to casino gamblers, Moneta’s Devitt pushes back

Hock Tan's warning knocked chip stocks lower, but Moneta's Aoifinn Devitt says the AI correction is natural and the gambling comparison goes too far The company selling the shovels just suggested the gold miners might be gambling. Broadcom CEO Hock Tan, whose firm booked $16.7 billion in AI revenue last quarter, compared many AI investors to casino gamblers at the DBS Asia Future Forward Conference on October 12, 2026. Markets took the remark personally. The iShares Semiconductor ETF (SOXX) fell around 3% that same day, and Broadcom’s own shares slipped about 2%. Not everyone accepted the premise.