The AI boom is entering a new phase — and Nvidia may not be the biggest winner as Broadcom gains ground.
BroadcomNvidia

The AI boom is entering a new phase — and Nvidia may not be the biggest winner as Broadcom gains ground.

Nvidia has dominated the AI training market, but Broadcom is poised to challenge its supremacy as it controls 70% of the ASIC market. Broadcom's AI chip sales surged 65% to $20 billion in fiscal 2025, with projections reaching $100 billion by fiscal 2027.

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Nvidia has been a major player in the AI boom, with its GPUs leading the AI training market. From fiscal 2022 to fiscal 2026, Nvidia's revenue and EPS grew at CAGRs of 68% and 89%, respectively.4

However, Broadcom is gaining momentum, particularly in the AI inference market. With a 70% share of the ASIC market, Broadcom's AI chip sales skyrocketed by 65% to $20 billion in fiscal 2025, contributing to 31% of its total revenue.23

Looking ahead, Broadcom anticipates its AI chip sales will reach $100 billion by fiscal 2027, driven by increasing investments in inference-driven technologies. Analysts project Broadcom's revenue and adjusted EBITDA to grow at CAGRs of approximately 53% from fiscal 2025 to fiscal 2027.6

As the AI landscape evolves, the competition between Nvidia and Broadcom highlights a significant shift, with Broadcom potentially emerging as a formidable contender in the AI sector.

Key Insight
“Nvidia has been a major beneficiary of the AI boom, with significant revenue growth. However, Broadcom is poised for substantial growth in the AI inference market, potentially altering the competitive landscape.”
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“Nvidia’s GPUs dominated the AI training market.”
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