By Alex Sirois
Publication Date: 2026-10-23 12:45:00
Broadcom and Marvell both crushed AI estimates and raised guidance, but they are winning in very different ways, and only one of those strategies scales fast enough to matter when hyperscaler spending shifts.
Broadcom (NASDAQ:AVGO | AVGO Price Prediction) and Marvell Technology (NASDAQ:MRVL) both beat estimates on AI demand and raised their guidance. They run the same playbook: custom accelerators for hyperscalers, plus the networking that links them. Broadcom operates at far larger scale. In custom silicon, Broadcom leads much like NVIDIA (NASDAQ:NVDA) does in GPUs. Marvell plays the challenger role that AMD (NASDAQ:AMD) plays against NVIDIA.
XPUs Power Broadcom While Optics Power Marvell
Broadcom’s AI semiconductor revenue hit $16.70B, up 221% YoY, and now makes up 56% of total revenue. Custom XPUs supplied 73% of AI revenue. Broadcom is now mainly an accelerator company, with VMware software attached. CEO Hock Tan described his pitch simply: “When you co-develop a chip…
