Serenity: NVIDIA is the Kingmaker of the ASIC Market, Marvell and Others Continue to Erode Broadcom's Share

Odaily Planet Daily reports that Serenity released an exclusive analysis on the AI ASIC market on platform X, presenting the core viewpoint that 'NVIDIA is the kingmaker of the ASIC market.' Serenity proposed an industry deduction logic, suggesting that NVIDIA CEO Jensen Huang is not inclined to see Broadcom monopolize the custom ASIC track. Under NVIDIA's implicit support within its ecosystem, companies like Marvell, MediaTek, AlChip, and GUC are steadily capturing market share originally dominated by Broadcom, taking on more custom chip projects from hyperscale cloud providers. This dynamic can be compared to the rise of emerging cloud service providers last year, which became an important strategy for NVIDIA to hedge against the moat of in-house ASIC development by leading cloud providers. Serenity notes that this could present a trading opportunity over a two-year horizon but does not constitute investment advice. Additionally, it predicts that after 2030, major companies like Google will internalize a significant portion of their chip design work. Serenity further adds that NVIDIA has the capability to reshape the valuation of the supply chain. Previously, the market had already speculated that Marvell could potentially reach a trillion-dollar market capitalization.