Broadcom's cofounder sold $750 million of stock while its CEO called AI investors gamblers
Broadcom's CEO called AI investors gamblers. The Form 4 filings show cofounder Henry Samueli selling about $250 million of stock a quarter, and today's buyers are paying less than his every exit price.
Richard Tang · 2 min read
Broadcom−4.14% — Broadcom, down 4.14 percent today CEO Hock Tan called AI investors gamblers at a Singapore conference on October 13, saying they set "very extreme expectations only to find out that it's almost like they are in a casino" and have "no clue what they are investing in" 1. The filings that same week show what his cofounder did with the stock those investors bought.
Henry Samueli, Broadcom's other founder and board chairman until June 2026, filed his third Form 4 of the year, taking total 2026 sales to about $750 million, roughly $250 million a quarter 1. Tan himself sold 70,000 shares in January for over $24 million 1.
The cofounder's exits were priced near the top, and today's buyer pays less
Samueli sold in March at a weighted average of $319.71 a share, in June at $382.13, and in September at $356.04 1. The June sale landed near the year's high. Broadcom shares sat roughly a third below their 52-week high last week 3, which puts the stock near $255, below every one of Samueli's three sale prices. The cofounder sold near the top; the retail crowd is buying lower than he sold, on a stock that has trailed the S&P 500 by 11 points this year 1.
The $21.7 billion guide is the number those sales sit under
What makes the timing worth watching is the guidance. AI semiconductor revenue hit $16.7 billion last quarter, up 221%, now the majority of Broadcom's revenue, and management guided $21.7 billion for the December quarter, up 236% 2. That is a forecast, not revenue earned, and it makes the next print unusually consequential 2. A steadier software line, including a new 10-year VMware deal with Japan's NTT DOCOMO, softens but does not remove that exposure 3.
Samueli has every right to sell, and a diversified founder selling into strength is not evidence of anything sinister. But insiders banking about $250 million a quarter at $320 to $380 is a factual position taken ahead of a forecast the company itself calls pivotal. As we noted in September, Broadcom's AI promise rests on a handful of customers. Watch whether the December print reaches $21.7 billion, and whether the next Form 4 appears before it does.
Samueli's three 2026 exits priced between $320 and $382 a share
Data
| Value | |
|---|---|
| March 2026 | $319.71 |
| June 2026 | $382.13 |
| September 2026 | $356.04 |
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