Broadcom and AMD Set to Outpace Nvidia Growth Through 2028 as Google Picks Marvell for Custom Chips

Nvidia remains the world’s most valuable company with a market cap near $4.9 trillion, driven by its dominant AI chips. Analysts expect Nvidia’s sales to rise at a compound annual growth rate of about 26.2% through 2028. Meanwhile, the broader AI chip market is expanding as hyperscalers seek alternatives to reduce costs and dependence on a single supplier.

Broadcom’s revenue is forecast to grow at a 35.6% CAGR through 2028, exceeding Nvidia’s projected pace. AMD’s revenue is expected to increase at a 35.2% CAGR over the same period, also outpacing Nvidia. Google announced it will use Marvell Technology to design its custom chips, a move that previously relied on Broadcom and has lifted Marvell’s stock. Marvell’s own revenue is projected to rise at a 30.3% CAGR through 2028.

The higher growth rates for Broadcom and AMD suggest analysts see stronger demand for their custom and AI‑focused chips relative to Nvidia’s current trajectory. Google’s partnership with Marvell signals a diversification of chip suppliers among major tech firms, which could intensify competition and pressure pricing across the sector. Investors should note that while these projections are optimistic, actual outcomes will depend on product adoption, supply chain stability, and macroeconomic conditions.