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AI ASIC part I: Broadcom, Google, AMD

FUNDA·2024年12月9日

Overview of Major CSP’s ASICs and Their Attempts to Break Free from the NVIDIA Ecosystem

We primarily focuses on Broadcom, Google, and AMD, providing an in-depth analysis of their self-developed ASICs, efforts to move away from the NVIDIA ecosystem, and related financial and technological developments.

Broadcom

Key Highlights

VMware Business:

  • We anticipate VMware revenue to maintain a slight quarter-over-quarter growth trend, reaching over USD 4 billion in Q4. GP margin is expected to increase further, primarily due to business integration in Europe.

  • In terms of customer structure, financial clients (banks and insurance) are the largest, followed by government and manufacturing sectors. The first two categories account for over 50% of revenue. Migration costs are substantial, and the willingness to migrate among these customers is very low, resulting in a favorable overall competitive landscape.

ASIC Chip Business:

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