India, Nov. 26 -- The press again misinterpreted today's announcements from Google, Meta, and Broadcom, framing them as direct challenges to Nvidia's leadership in AI compute. Headlines emphasized an expanded TPU roadmap, a deeper Google-Meta alignment around shared inference infrastructure, and Broadcom's 8 percent stock surge-while Nvidia traded down roughly 2%.

Yet, the reporting repeated an old analytical mistake: conflating the market for inference silicon with the market for training silicon. Google and Meta's new deployments, and Broadcom's strengthened role as a TPU supplier, all sit squarely in the inference domain and do not encroach on Nvidia's unchallenged position in training large-scale models.

Context from earlier analysi...