Forget AMD. Here's Who Nvidia Really Needs to Be Worried About.

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The question of which AI hardware company is best seems to always circle around Advanced Micro Devices (NASDAQ: AMD) and Nvidia (NASDAQ: NVDA). However, I don't think that's who Nvidia shareholders need to be concerned about.

Instead, I think investors need to look outside the GPU realm and start looking at custom AI chips that could steal market share. The biggest name in this space is Broadcom (NASDAQ: AVGO), and I think it is actually Nvidia's No. 1 competitor right now.

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This shifts the narrative completely, and once you see the growth Broadcom is projecting, it's easy to understand why Nvidia has cause for concern.