Google could build more AI accelerators than Nvidia sells by 2028, using Intel Foundry; long-term volume threat

Fubon Research claims Google's TPU v9 volume could exceed Nvidia's GPU shipments by 2028, potentially using Intel Foundry. This is a major competitive signal—custom silicon scaling fast. Challenges Nvidia's volume dominance but doesn't diminish demand. Software moat remains key. My audience needs to watch this trend; it's a long-term risk to NVDA's market share narrative.