# EP 123: Marvell ASIC TAM, ASIC Challenges Remain, More Semi 2.0

- Show: [The Circuit](https://hardwarepodcasts.com/podcast/the-circuit)
- Published: 2025-06-23
- Length: 40m
- Episode: 124
- Page: https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0
- Listen: https://share.transistor.fm/s/0e00e5d0

## Summary

Ben Bajarin and Jay Goldberg discuss Marvell's recent custom semiconductor event, analyzing their technical differentiation against Broadcom and the challenges of the lumpy, cyclical nature of custom ASIC revenue. They explore the strategic tension between GPUs and ASICs, noting that hyperscalers like Amazon and Google are playing both sides, while examining the rising costs of leading-edge foundry services and the economic shift toward chiplet architectures. The conversation concludes with a thesis on 'Semi 2.0,' driven by AI workloads outstripping compute capacity, and the physical limits of monolithic chip scaling due to skyrocketing wafer prices.

## Chapters

- [0:05](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=5) Introduction: Marvell Custom Semiconductor Event
- [1:53](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=113) Marvell's Technical Differentiation and Revenue Lumpiness
- [5:34](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=334) Hyperscaler Information Asymmetry and ASIC Design Risks
- [9:49](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=589) The GPU vs. ASIC Debate and Hyperscaler Strategies
- [14:35](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=875) Custom Silicon Economics: Margins vs. Strategic Advantage
- [17:31](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=1051) Semi 2.0: Software Workloads Driving Industry Growth
- [28:59](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=1739) Rising Foundry Costs and the Chiplet Solution
- [37:24](https://hardwarepodcasts.com/podcast/the-circuit/2025-06-23-ep-123-marvell-asic-tam-asic-challenges-remain-more-semi-2-0#t=2244) Foundry Capacity, Capex, and Future Power Demands

## Topics

- [Chips, FPGAs & semiconductors](https://hardwarepodcasts.com/topic/chips-and-fpgas)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Manufacturing partners & offshoring](https://hardwarepodcasts.com/topic/manufacturing-partners)
- [AI & machine learning](https://hardwarepodcasts.com/topic/ai-and-machine-learning)
- [Sourcing & supply chain](https://hardwarepodcasts.com/topic/sourcing-and-supply-chain)

## Most relevant to

large enterprises

## Mentioned

- Marvell (company)
- Broadcom (company)
- Amazon (company)
- Google (company)
- Nvidia (company)
- TSMC (company)
- Qualcomm (company)
- Intel (company)
- Samsung (company)
- Apple (company)
- Alchip (company)
- Astera Labs (company)
- Vera Rubin (product)
- Feynman (product)
- Blackwell (product)
- Graviton (product)
- Tranium (product)

## Related episodes from other shows

- [Whither Semiconductors? The Wheels on the Bus Go ‘Round and ‘Round](https://hardwarepodcasts.com/podcast/ee-times-current/2021-07-16-whither-semiconductors-the-wheels-on-the-bus-go-round-and-round) (EE Times Current)
- [Accessible ASICs with Andreas Olofsson](https://hardwarepodcasts.com/podcast/the-amp-hour/2023-11-13-accessible-asics-with-andreas-olofsson) (The Amp Hour)
- [How Much is Enough for Hyperscale Companies?](https://hardwarepodcasts.com/podcast/ee-times-current/2019-07-26-how-much-is-enough-for-hyperscale-companies) (EE Times Current)
- [Can the Nvidia Monopoly on AI Chips Be Broken?](https://hardwarepodcasts.com/podcast/ee-times-current/2026-03-16-can-the-nvidia-monopoly-on-ai-chips-be-broken) (EE Times Current)
- [No More Naming](https://hardwarepodcasts.com/podcast/the-amp-hour/2015-07-23-no-more-naming) (The Amp Hour)

## Citing this page

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