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Home/Chips & Networking/Bottlenecks/Accelerators
US / UK · Chips & Networking

AI Chips (GPUs & Custom ASICs)

Deployable AI compute tracks the minimum of logic, HBM and packaging. Merchant GPUs and hyperscaler ASICs compete for the same upstream capacity.

Design→Foundry→Package→Test→Rack
72
Tightness score ⓘ
#19 of 56
■ Stable
Supply concentration5
Lead time3
Capex intensity4
Geopolitical exposure3
Pricing power5
Lead time
6–12 mo
Theme 1M
−15.1%
% in uptrend
33%
Metric to watch

Accelerator lead times, custom-ASIC tape-outs, and the mix of GPU vs ASIC in hyperscaler capex commentary.

What would prove us wrong

Weakens if accelerator lead times fall below a quarter while hyperscaler capex guides keep rising — supply would be catching demand.

Dependencies
↑ supplier  Chip Testing & Burn-in70↑ supplier  MLCC & Passive Components62 ↓ customer  AI Server Racks (Taiwan ODMs)52↓ customer  Robot Brains (Edge Compute)48↓ customer  Hyperscalers & AI Cloud (the buyers)80

Accelerators theme performance

Equal-weight · rebased 100 · 1Y
Stocks we track

Who controls this bottleneck

Roles, not recommendations. Delayed prices; local currency.

StockRoleListingLast1D1M3MYTDOff 52w highTrendNext earnings
NVDA
NVIDIA
 Demand aggregator for HBM, packaging, optics and robotics compute NASDAQ
US		 $166.2 −4.34% −24.9% −26.1% −10.7% −30.5% 2026-11-17
AMD
Advanced Micro Devices
 Second merchant GPU source competing for the same CoWoS and HBM NASDAQ
US		 $585.3 +5.86% +2.5% +13.8% +173.3% −9.9% 2027-02-02
AVGO
Broadcom
 Custom ASICs and Ethernet switch silicon for hyperscaler clusters NASDAQ
US		 $364.4 +5.54% +5.2% −7.1% +5.9% −24.1% 2026-12-09
MRVL
Marvell Technology
 Custom silicon, DSPs and electro-optics for AI infrastructure NASDAQ
US		 $164.4 −2.58% −33.0% −25.9% +93.8% −48.0% 2026-12-01
ARM
Arm Holdings
 CPU IP inside custom accelerators, servers and edge devices NASDAQ
UK		 $199.8 −1.76% −16.1% −28.5% +82.8% −54.5% 2027-02-03
ALAB
Astera Labs
 PCIe/CXL retimers and scale-up connectivity NASDAQ
US		 $227.8 −1.35% −24.1% −29.2% +36.9% −52.8% 2026-11-03

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