BlockBeats News, July 3rd, Serenity published an article stating his "conspiracy theory" that NVIDIA CEO Jensen Huang may not be fond of Broadcom (AVGO), and believes that ASIC challengers among NVIDIA's allies are gradually eroding Broadcom's ASIC market share. Companies like Marvell (MRVL), MediaTek, AlChip, GUC, and others seem to be slowly entering Broadcom's ASIC market share. He believes that this process is being quietly promoted with the support of NVIDIA.

He analogizes this phenomenon to the rise of emerging cloud providers last year, arguing that they have to some extent become an extension of NVIDIA's ecosystem, used to counter the moat formed by cloud providers' in-house ASICs. The overall ASIC market is evidently still growing, but many challengers appear to be taking on more projects related to hyperscale cloud providers, possibly with NVIDIA's backing.

Serenity stated that this is not investment advice, but he believes it might be an interesting two-year trading opportunity. However, post-2030, he anticipates that companies like Google may bring more design work in-house. He also noted that NVIDIA is clearly a "kingmaker," and any company it touches will be repriced by the market, as seen in previous discussions about Marvell becoming a "$1 trillion company."