Broadcom $AVGO will topple $NVDA if it doesn't change it's strategy.

Look, there'll be a consolidation in the top AI models (maybe Anthropic, ChatGPT, Gemini).

The LLM manufacturers want to minimize unit economics and don't really care about product releases given that we are plateauing using silicon CMOS based chips.

AVGO will likely build all the custom chips for theses hyperscalers - much of this isn't priced in as analysts still think the ASICs coming out of Broadcom are just supplementary chip supply.

And as I have repeatedely said the CUDA moat is nowhere near as strong as folks make it out to me - CUDA is software, and software ironically is beining eaten by LLM-based coding.