Broadcom's New Front in Chip Crisis

Broadcom trades 25% below its 52-week high after a Google scare, yet AI revenue hit $10.8 billion, up 143% last quarter. Hock Tan guided Q3 AI revenue above $16 billion, over 200% year-over-year growth, yet AVGO trades at just 19x forward earnings. Google's threat to redirect TPU work toward MediaTek triggered the selloff, but Meta, Anthropic, and OpenAI all hold multi-year custom-silicon commitments with Broadcom.

Market Situation

■AVGO +3.20%

■2454.TW -1.75%

■MRVL +4.99%

■GOOGL -0.84%

■META +4.70%

Investment Interest

■Broadcom's AI revenue growth

■Marvell's data center segment

■Google-MediaTek crisis

Conclusion

■Broadcom's chip crisis

■Marvell's comeback story

Background

■Broadcom and Marvell's custom AI silicon and networking chips

■Hyperscalers

How will the markets be affected by this situation and what will be the future of Broadcom?