Who’s Really The King of Custom Silicon, Broadcom or Marvell Technology?

Broadcom (NASDAQ: AVGO | AVGO Price Prediction) and Marvell Technology (NASDAQ: MRVL) just delivered earnings that clarified the pecking order in custom AI silicon. Broadcom posted $22.2 billion in quarterly revenue with $10.8 billion from AI chips. Marvell put up $2.418 billion, with data center at 76% of the mix. Both design ASICs for hyperscalers. Only one is running the table.

Hock Tan’s Gigawatt Machine vs. Matt Murphy’s Roadmap Sprint

Broadcom’s quarter was a scale flex. AI semiconductor revenue grew 143% year-on-year, and Q3 guidance calls for $16 billion in AI revenue, up over 200%. Hock Tan pointed to 10 gigawatts of shipments planned for 2027 across Google TPUs, Meta MTIA, OpenAI, and Anthropic, with FY2027 AI revenue guided “in excess of $100 billion”. Networking made up nearly 40% of AI revenue, a moat competitors have not matched.

Marvell’s story is narrower but accelerating. Matt Murphy raised FY2027 revenue to…