Broadcom likely co-designed Google’s next-gen AI chip, says JPMorgan

After Google (GOOGL) recently provided a sneak peek into its next-generation artificial intelligence processor chip, called Google TPU v4, JPMorgan analyst Harlan Sur said he believes the new chip was co-designed by Broadcom (AVGO), as has been the case with the prior three generations of Google’s AI processors. The analyst, who thinks that the TPU4 is Broadcom’s first 7nm custom chip to be introduced to the market, also believes that Broadcom has won and is already working with Google on its 5th generation TPU processor chip using 5nm technology. Sur has an Overweight rating and $365 price target on Broadcom shares.