JPMorgan’s Harlan Sur pushed back on market fears that Broadcom’s Google-linked TPU v9 2nm chip program is slipping, insisting the project remains on schedule for a 2028 production ramp and that current worries have not pointed to confirmed delays or cancellat
The anxiety had been building in the market: Broadcom’s TPU v9 2nm project—built for Google—was suddenly being discussed as if it had hit serious roadblocks. On June 17. JPMorgan analyst Harlan Sur stepped in to calm that noise. reiterating an Overweight rating and a $580 price target on Broadcom Inc. (NASDAQ: AVGO) while pushing back on the idea that delays are real.
Sur’s response focused on the specific fear circulating around Broadcom’s TPU v9 2nm chip program. The concern was tied to reports suggesting delays in the next-generation artificial-intelligence accelerator being developed for Google. Sur argued those worries were unfounded, saying the TPU v9 program remains one of Broadcom’s highest-priority projects. He added that the project is firmly on schedule for a 2028 production ramp. and that no delays or cancellations have been confirmed.
To explain why the schedule matters, Sur pointed to where the program stands in its build cycle. Broadcom completed the initial IP design phase in the first half of 2025 and moved into full system-on-chip design in the second half. The chip itself is described as an AI accelerator with four compute dies. 16 High Bandwidth Memory stacks. and 400Gbps SERDES—an arrangement intended to handle the data demands of next-generation AI workloads.
Sur also placed TPU v9 in the context of what Broadcom has already delivered. Before the v9 story fully plays out. Broadcom’s TPU v8i 3nm chip received full qualification from Google by mid-2025 and is set to begin production ramping this quarter. The contrast is sharpened by the rival development inside Google’s internal chip effort: the Google internal chip team. working alongside MediaTek on the rival Zebrafish TPU v8t 3nm program. is still in the design optimization phase. Sur said this timeline gap adds up to an 18-month head start for Broadcom.
There’s a clear sequence running through Sur’s message: Broadcom has already moved through key design phases for TPU v9. it has a nearer-term TPU v8i ramp underway. and the competitive comparison turns on who is farther along in design optimization. That combination is why the “delay” narrative doesn’t land the same way after his update.
Broadcom Inc. (NASDAQ: AVGO), the company behind the chips, is a semiconductor and infrastructure software company. It designs. develops. and supplies semiconductor devices for data center networking. broadband. wireless. and storage markets. and it provides mainframe and cybersecurity software solutions.
JPMorgan’s rating call came with the broader conviction that Broadcom still matters as a stock. even as AI chip headlines can swing fast. And for readers looking beyond the immediate debate. the piece also notes that while the potential of AVGO is acknowledged. the view presented favors other AI stocks for greater upside potential and less downside risk. including an offer for a free report on an “extremely undervalued AI stock” positioned to benefit from Trump-era tariffs and the onshoring trend.
The disclosure in the material is straightforward: none.
Broadcom AVGO JPMorgan Harlan Sur TPU v9 TPU v8i Google MediaTek Zebrafish 2nm chip 3nm chip AI accelerators SERDES High Bandwidth Memory 2028 production ramp