# EP 133: Broadcom Earnings, More on ASICS vs. GPUs, Google Selling TPUs?

- Show: [The Circuit](https://hardwarepodcasts.com/podcast/the-circuit)
- Published: 2025-09-08
- Length: 43m
- Episode: 134
- Page: https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus
- Listen: https://share.transistor.fm/s/65560de3

## Summary

Ben Bajarin and Jay Goldberg analyze Broadcom’s recent earnings, highlighting the significance of its fourth custom-ASIC customer, widely reported to be OpenAI, which represents a ~$10B opportunity. They discuss the strategic battle between NVIDIA’s proprietary NVLink ecosystem and Broadcom’s Ethernet-based approach, arguing that networking is the true battleground for AI infrastructure. The hosts also evaluate the competitive landscape for AMD and Google’s potential strategy regarding TPU capacity, concluding that TSMC remains the primary beneficiary of this spending surge.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus#t=0) Broadcom Earnings and OpenAI ASIC Win
- [7:03](https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus#t=423) Lumpiness vs. Cyclicality in Custom Silicon
- [11:16](https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus#t=676) NVIDIA vs. Broadcom: The Networking Battle
- [19:07](https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus#t=1147) Market Sizing and ROI Uncertainty
- [27:37](https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus#t=1657) Terminology: GPUs vs. MPUs/AI Accelerators
- [31:07](https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus#t=1867) Intel Foundry Financing and TSMC Dominance
- [37:00](https://hardwarepodcasts.com/podcast/the-circuit/2025-09-08-ep-133-broadcom-earnings-more-on-asics-vs-gpus-google-selling-tpus#t=2220) Google TPU Capacity and Deployment Strategy

## Topics

- [Chips, FPGAs & semiconductors](https://hardwarepodcasts.com/topic/chips-and-fpgas)
- [Sourcing & supply chain](https://hardwarepodcasts.com/topic/sourcing-and-supply-chain)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)

## Most relevant to

large enterprises

## Mentioned

- Broadcom (company)
- NVIDIA (company)
- OpenAI (company)
- AMD (company)
- TSMC (company)
- Intel Foundry (company)
- Google (company)
- NVLink (product)
- Blackwell (product)
- TPU (product)
- Cranium (product)
- Vera Rubin (product)
- Helios (product)
- MI400 (product)
- MI350 (product)

## Related episodes from other shows

- [Google TPU vs Nvidia GPUs: Token Per Watt Dominance, or the Era of Scaling Is Over?](https://hardwarepodcasts.com/podcast/built-2-scale/2025-11-26-google-tpu-vs-nvidia-gpus-token-per-watt-dominance-or-the-era-of-scaling-is-over) (Built 2 Scale)
- [2025 Finale: Yann LeCun Raises $3B, Domain Addiction Confessions & Built 2 Scale Year Wrap](https://hardwarepodcasts.com/podcast/built-2-scale/2025-12-22-2025-finale-yann-lecun-raises-3b-domain-addiction-confessions-built-2-scale-year) (Built 2 Scale)
- [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)
- [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)
- [AI NEWS | Episode 31](https://hardwarepodcasts.com/podcast/built-2-scale/2025-12-03-ai-news-episode-31) (Built 2 Scale)

## Citing this page

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