Broadcom locks in deals with three hyperscalers, cementing its role as the AI chip maker that isn't Nvidia

When people think “AI chip stocks,” Nvidia is the reflexive answer. But Broadcom has been quietly assembling a portfolio of hyperscaler partnerships that would make any semiconductor company jealous, and the market is starting to notice.

The company has expanded its custom AI chip customer base from three to six over the past two years, with confirmed or reported partnerships spanning Google, Meta, and ByteDance. Its AI revenue surged 106% year-over-year in Q1 of fiscal year 2026, a growth rate that suggests this isn’t just a niche play anymore.

The hyperscaler playbook

Broadcom designs custom AI accelerators, known as XPUs, tailored to each client’s specific workloads. Google’s partnership is particularly telling. Broadcom has a long-term supply agreement for Google’s Tensor Processing Units (TPUs) that extends all the way through 2031. Meta is another cornerstone client, with Broadcom supporting the company’s MTIA program, short for Meta Training and Inference Accelerator. ByteDance rounds out the hyperscaler trio, adding a major international dimension to Broadcom’s customer roster.

Beyond the big three