Given strong ramp of Trainium 2 and strength in DSPs, high-speed switches and DCI products, we believe MRVL’s AI biz is trending ahead of F1Q26 & F2Q26 street revenue expectations, to offset the softness in storage & on-premise datacenter products. Alongside robust demand for its merchant networking ASICs, AVGO is likely to deliver at least in-line AI revenue for F2Q25, with encouraging remarks on its ASIC biz, given smooth transition between GOOG’s new and old TPUs & strong ASIC momentum.