Wedbush Issues Stark Warning on Broadcom as Google AI Chip Threat Emerges

Yahoo Finance · 2026-06-25

Wedbush Issues Stark Warning on Broadcom as Google AI Chip Threat Emerges Nauman Khan Thu, June 25, 2026 at 9:24 AM EDT 1 min read AVGO GOOGL 2454.TW This article first appeared on GuruFocus . Broadcom ( NASDAQ:AVGO ) shares are in focus on Thursday after Wedbush commented on a media report that MediaTek may take over Google ( NASDAQ:GOOG ) tensor processing unit work, a shift that could affect Broadcom's role in custom chip design Broadcom had fallen more than 3% on Tuesday before trimming losses in premarket trading. Wedbush analyst Matt Bryson said the report, if accurate, could weigh on the view that Broadcom holds a stronger position than peers in the custom ASIC market. Warning! GuruFocus has detected 2 Warning Sign with AVGO. Is AVGO fairly valued? Test your thesis with our free DCF calculator. The Commercial Times reported that Google could move TPU design work to MediaTek in 2028 for its next v9 chip, also called Triggerfish. The report said Google had initially planned to work with Broadcom and use its 448G SERDES technology, but delays may have pushed the shift. Broadcom, Google and MediaTek did not immediately respond to requests for comment. Broadcom investors are also watching separate TPU-related reports that Google may use Samsung (SSNLF) to make memory input-output dies for a future chip, partly because of capacity limits at Taiwan Semiconductor Manufacturing (TSM).

AI 시장 분석

Wedbush's warning on Broadcom (AVGO) stems from reports that Google may hand part of the next TPU(v9, Triggerfish) design to MediaTek. Google had originally planned to leverage Broadcom's 448G SERDES technology, but delays raise the possibility of a change in design partner. The news prompted a reassessment of Broadcom's custom ASIC dominance, putting downward pressure on AVGO's share price, while creating potential order and manufacturing opportunities for alternative suppliers such as MediaTek and Samsung. Future contract finalization and TSM(대만 TSM)'s capacity situation are likely to shape the market outcome.

상승 영향

Semiconductor design / Fabless (MediaTek — If Google entrusts part of the TPU design to MediaTek, MediaTek could enter the high‑margin custom AI ASIC market and rapidly secure revenue and technical credibility.
Foundry / Memory manufacturing (Samsung) — If Google assigns memory I/O dies to Samsung, Samsung could expand integrated foundry–memory orders and see increased high‑value packaging demand, supporting stronger results.
Packaging / OSAT — A TPU design shift that raises demand for HBM, I/O dies and high‑density packaging would directly benefit OSAT and packaging companies such as ASE and Amkor.

하락 영향

Custom ASIC / Networking chips (Broadcom — If Broadcom (AVGO) is excluded from Google's TPU design, its technical edge and order base in the custom ASIC market would be weakened, which is negative for revenue growth and valuation.
Foundry (TSM) — If some Google volume shifts away because of TSM(대만 TSM)'s capacity constraints, that could cause near‑term revenue loss and raise concerns about foundry growth prospects.
Data‑center network solutions / 448G SER — If Google does not use Broadcom's 448G SERDES‑based design, adoption of related network equipment and interconnect technologies could be delayed, producing negative spillovers for the Broadcom ecosystem.

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