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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
−15.2%
% in uptrend
0%
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		 $216.0 +2.38% −4.0% +9.8% +16.1% −9.7% 2026-11-17
AMD
Advanced Micro Devices
 Second merchant GPU source competing for the same CoWoS and HBM NASDAQ
US		 $530.9 +2.73% −15.8% +16.8% +147.9% −18.2% 2026-11-03
AVGO
Broadcom
 Custom ASICs and Ethernet switch silicon for hyperscaler clusters NASDAQ
US		 $330.6 +2.76% −6.3% −13.1% −4.0% −31.1% 2026-12-09
MRVL
Marvell Technology
 Custom silicon, DSPs and electro-optics for AI infrastructure NASDAQ
US		 $236.6 +3.55% −9.6% +35.7% +178.9% −25.2% 2026-12-01
ARM
Arm Holdings
 CPU IP inside custom accelerators, servers and edge devices NASDAQ
UK		 $222.8 +5.92% −28.2% −9.0% +103.8% −49.3% 2026-11-04
ALAB
Astera Labs
 PCIe/CXL retimers and scale-up connectivity NASDAQ
US		 $266.1 +3.46% −27.0% +2.2% +59.9% −44.9% 2026-11-03

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