NVIDIA reported $96.22B in revenue, more than doubling year over year, while Broadcom grew AI semiconductor revenue 221% by building custom chips for frontier labs. The article contrasts NVIDIA's complete AI systems, with Data Center revenue of $89.02B, up 117%, against Broadcom's custom XPUs, which made up 73% of its AI revenue and depend on six customers. NVIDIA says it has supply for only about 70% of demand, while Broadcom's roadmap includes Anthropic's five gigawatts of TPU v8i in 2027 and OpenAI's 1.3 gigawatts of Jalapeno. Both companies rely on Apollo and Blackstone vehicles for financing, and on October 14 NVIDIA fell 3.16% while Broadcom fell 3.1%. The author leans toward Broadcom, noting it is up just 0.59% year to date versus 18.94% for NVIDIA, with a forward P/E near 19x.
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