[JPMorgan: Broadcom's AI Custom Chip Demand Overwhelming, Tomahawk 6 Sold Out] According to DeepTech TechFlow, on July 8, citing research from TrendForce, the meeting minutes from Broadcom's management on July 7 revealed that inference demand is accelerating the adoption of custom XPUs. Among leading model builders, the shipment ratio of XPUs to GPUs may reach 50:50 next year. Google's TPU v9 roadmap is progressing as planned, with 400G SerDes already developed and operational. Apple's ASIC collaboration has been extended to 2031, with an additional AI accelerator project added. OpenAI's next-generation XPU is about to tape out. The Tomahawk 6 switching chip is sold out, and Broadcom does not foresee an oversupply of AI computing power in 2027/2028. JPMorgan maintains an overweight rating, noting that Broadcom is the world's second-largest AI semiconductor supplier, the largest custom chip ASIC supplier, and the largest network semiconductor supplier.