Guangfa Securities: Market undervalues the potential of MediaTek's cooperation with Google. Broadcom's and Qualcomm's orders may be affected.

The supply chain landscape of Google's new generation AI chip TPUv9 is undergoing a profound transformation. According to the latest report from Guosen Securities, Google has chosen MediaTek instead of Broadcom or Qualcomm to build its ninth-generation tensor processor, marking a major shift in Google's custom chip strategy. Previously, Broadcom confirmed for the first time at a financial report meeting in early June that Google is seeking to introduce other chip suppliers, meaning that Broadcom will lose its exclusive supply position for Google TPU-related design orders.