[Chart Investment] Cross-Company Comparison of 6 AI Chip Stocks | Chart Investment Phase 1 Reading via AVGO, AMD, and NVDA [2026 Q1]

Introduction

You can no longer read "AI chips" by looking at NVIDIA alone.

The king of GPUs is certainly NVIDIA. However, to actually run an AI data center, multiple chips must mesh together: custom ASICs that bundle GPUs, CPUs that serve as hosts, optical/electrical connections that link clusters, and even edge AI that descends to smartphones and automotive applications. Water does not flow through a single pipe, but branches into many streams.

This time, we will read this sector_sub called "AI chips" by lining up the 2026 Q1 earnings of six companies using the same yardstick.

• NVIDIA (NVDA)

• Broadcom (AVGO)

• Advanced Micro Devices (AMD)

• Marvell Technology (MRVL)

• Qualcomm (QCOM)

• Intel (INTC)

There is one question I want to pose. After the AI chip market has run this far, are the "company with the strongest business" and the "company easiest to buy right now" the same? This article will verify that through the earnings of the six companies.

Positioning in Chart Investment

In Chart Investment, we liken the money flowing into AI to the flow of water and read where the water level is rising. The overall map corresponds to the 3-layer map (L1 Apps / L2 Platforms / L3 Infrastructure) defined in the flagship article.

AI chips fall under Phase 1 (GPU / AI chips) among these, and the Layer is L3 Infrastructure. It is the most upstream layer that first receives a large amount of water from the water source of hyperscaler CAPEX. AVGO and MRVL also have a foothold in Phase 3 (optical communication/networking) in addition to this, and INTC also has the characteristics of Phase 1.5 (semiconductor supply chain).

Why look at these AI chips across the board now? Judging by the earnings figures, sales, demand visibility, and cash flow for AI infrastructure are still strong. On the other hand, the stock prices have already seen their water levels rise significantly. The water is flowing. However, there may be no shallows left. The purpose is to verify that temperature difference.

Differences in the roles of the target companies

Even though they are all "AI chips," the roles of the six companies are clearly different. I will summarize each company in one sentence.

NVDA is the center of the AI Factory that bundles GPUs, Blackwell, and networking. It is the king of AI chips.

AVGO is an "AI chip that is not a GPU," possessing custom AI XPUs for hyperscalers, AI networking, and VMware's infrastructure software. It receives the water flow through dedicated silicon and networking outside of standard GPUs.

AMD is the second GPU pillar against NVIDIA, with EPYC CPUs and Instinct GPUs as its two wheels. Meta's up to 6GW project and the MI450 are concrete catalysts.

MRVL is a 'connection bottleneck' stock that handles custom AI silicon, optical/electrical connectivity, and Ethernet/scale-up networking. Its data center purity is among the highest of the six companies.

QCOM's main battleground is edge AI and automotive, and it has reached the stage of entering the data center/custom silicon market through the acquisition of Alphawave. It is yet to be proven as a mainstream AI data center player.

INTC is in the midst of rebuilding its Xeon/DCAI and Foundry businesses. While it is a candidate for host CPUs in AI servers, the company's overall earnings remain heavy.

The map so far and what will be answered next

By now, it has become clear where AI chips are on the chart and how the roles of the six companies differ.

Arranged by role, it is roughly as follows: NVDA as the king of GPUs, AVGO as ASIC/XPU, AMD as the second GPU pillar, MRVL for connectivity/customization, INTC in reconstruction, and QCOM at the entrance. However, this is merely a map of 'roles' so far.

What is needed for investment decisions is what lies beyond that.

• Where is the flow of AI/data center capital concentrated when earnings are compared using the same yardstick?

• Which companies can fight with room to spare in terms of earning power (FCF) and financial strength?

• Where do 'business strength' and 'buyability' diverge when stock price levels and valuations are overlaid?

• Based on that, how should the six companies be classified (top pick, semi-top pick, neutral, speculative, or pass)?

In the paid part from here on, I will answer these questions by presenting cross-comparisons, role maps, financials, earnings call sentiment, water level rise scores, macro factors, valuations, risks, author's judgment, and KPIs in order. A chart is not a tool for predicting the future, but a tool for ensuring you do not misidentify your current location.

The following is the paid part