Broadcom just picked its next finance leader. The company hired Amie Thuener from Alphabet to take over as its Chief Financial Officer on June 12. She replaces Kirsten Spears, who is retiring after a long career at the chip giant. Thuener currently serves as a top executive at Google’s parent company, where she handles accounting and corporate governance.
Before her time at Alphabet, Thuener worked as a managing director at PricewaterhouseCoopers. Broadcom’s CEO, Hock Tan, feels very confident about the hire. He pointed out her deep experience with global organizations and AI-related deals. This background will be vital as Broadcom tries to grow its footprint in the crowded artificial intelligence market.
The outgoing CFO, Kirsten Spears, isn’t leaving the building immediately. She will stay on as an advisor for nine months to make sure the handoff goes smoothly. Spears leaves behind a huge legacy, most notably leading the massive $69 billion purchase of the software company VMware back in 2023. That deal completely changed Broadcom’s business model.
Broadcom is now worth nearly $1.5 trillion, but it doesn’t build AI chips exactly like Nvidia does. Instead, it helps big companies like Google and OpenAI design their own custom processors. For example, they work with Google on the chips that power their search engine and with OpenAI on specialized hardware for ChatGPT.
Business is booming for the chip designer. Last month, Broadcom told investors that it expects its AI chip revenue to climb past $100 billion next year. The demand for custom chips is higher than ever as companies look for alternatives to Nvidia’s expensive hardware. Broadcom wants to grab a larger slice of this market as more businesses build their own AI tools.
However, it isn’t all smooth sailing. The rush for AI chips has put a massive strain on factories. Broadcom, like many others in the tech world, currently deals with supply chain headaches that make it hard to keep up with orders. Thuener will have to manage these financial risks and production hurdles when she officially steps into her new role this summer.
