# 2 AI Stocks, 1 Winner: Which Has More Upside? > Source: > Published: 2026-08-20 18:00:08+00:00 **Broadcom** ([NASDAQ:AVGO](https://247wallst.com/companies/avgo/) | [AVGO Price Prediction](https://247wallst.com/companies/avgo/price-prediction)) and **Marvell Technology** ([NASDAQ:MRVL](https://247wallst.com/companies/mrvl/)) both just delivered post-earnings updates that reset expectations for custom [AI silicon](https://247wallst.com/investing/2026/02/02/broadcom-and-tsmc-emerge-as-big-winners-in-custom-ai-chip-boom/) and networking. Broadcom posted a record $22.2 billion quarter powered by [hyperscaler XPU deals](https://247wallst.com/investing/2026/08/11/beyond-gpus-as-hyperscalers-flex-their-own-chips-a-new-kind-of-ai-premium-is-in-the-cards/). Marvell answered with $2.418 billion in revenue and a sharply raised outlook. Same end market, very different scale. ## Hyperscaler Deals Carry Broadcom. Optics Carry Marvell. Broadcom’s semiconductor segment reached $15 billion, with AI silicon alone at $10.8 billion, up 143% year on year. Hock Tan said “Demand for XPUs and networking is simply insatiable”, pointing to [bookings that exceeded $30 billion in the quarter.](https://247wallst.com/investing/2026/08/17/the-market-is-sending-a-signal-and-these-stocks-stand-out/) The customer roster now includes multi-generation TPU work with Google, a 1.3 gigawatt deployment tied to OpenAI, and a Meta MTIA program targeting 3 gigawatts through the end of 2028. All of that gigawatt scale has to be powered and cooled by somebody, and we rounded up seven suppliers behind the buildout in a [free AI infrastructure report](https://247wallst.com/pages/ai-power-seven-offer-d905ec99.html). Marvell’s story is narrower but sharper. Data center revenue hit $1.83 billion, or 76% of total revenue. Matt Murphy said “Our data center business is on fire”, and lifted fiscal 2028 revenue to roughly $16.5 billion. The push is optical: 800G and 1.6T interconnects, 51.2T Ethernet switching, and the Celestial AI photonic fabric that a Tier 1 hyperscaler already selected for scale-up XPU networks. ## Scale vs. Speed: Two Very Different Bets Lens | Broadcom | Marvell | | Market cap | $1.72T | $194B | | Next quarter AI/DC growth | AI revenue up over 200% YoY to $16B | Data center up mid-40% YoY | | Forward P/E | 20 | 58 | | Core bet | Custom XPUs plus VMware software | Optical interconnect and custom silicon | [Broadcom leans on diversification](https://247wallst.com/investing/2026/08/14/broadcom-is-down-over-3-months-one-wall-street-pro-sees-60-gains-ahead/). VMware added $7.2 billion at a 93% gross margin, and free cash flow reached $10.3 billion. Marvell is spending to build the future: roughly $1 billion in supplier prepayments this year, plus the Celestial AI, XConn and Polariton deals. Higher risk, higher slope. ## What Decides the Next Two Quarters Broadcom’s Q3 earnings report lands Wednesday, September 2, 2026, and visibility already runs all the way to 2028. The AVGO share price is a wrinkle: shares closed at $362.48, down 12.88% in a week, while sentiment sits at a neutral 42.98. For Marvell, at $237.27 and up 179.61% year to date, the test is execution on the new Tier 1 XPU program and the path to over $10 billion in fiscal 2029 custom revenue. ## Durable Cash Flow vs. Maximum AI Torque On the fundamentals, [Broadcom screens as the more durable of the two](https://247wallst.com/investing/2026/08/17/broadcoms-brilliant-strategy-keeps-me-buying-especially-now/). The mix of VMware cash flow, a $2.54 dividend, and locked-in gigawatt commitments frames the recent pullback as a re-rating. Analysts still carry a target of $527.88, which frames the upside case. If you want maximum torque to AI networking, [Marvell is the sharper instrument](https://247wallst.com/investing/2026/08/17/whos-really-the-king-of-custom-silicon-broadcom-or-marvell-technology/). Growth is accelerating, but a 57 forward P/E, 2.246 beta, and a bearish sentiment score of 34 mean any hyperscaler order slip would sting. The setup argues for a smaller position and continued volatility. *Contact [email protected] for any questions or corrections.*