https://tendrill.ai/2025/11/24/google-tpu-supply-chain-and-the-public-companies-that-benefit/
Google’s TPU Supply Chain and the Public Companies Positioned to Benefit
Google’s Tensor Processing Units (TPUs) play a central role in powering the company’s AI infrastructure, from search to generative models. While Google designs its TPU architectures internally, the company relies heavily on an intricate global supply chain—particularly Taiwan Semiconductor Manufacturing Company (TSMC), Broadcom, and high‑bandwidth memory (HBM) manufacturers—to turn those designs into production‑ready silicon. As demand for AI compute accelerates, several public companies stand to benefit directly from Google’s TPU roadmap.
How Google’s TPUs Are Manufactured
Google does not fabricate TPUs itself. Instead, it develops the architecture and partners with semiconductor specialists for manufacturing, integration, and packaging.
TSMC as the Core Manufacturer
Multiple reports, including coverage from CNBC and industry intelligence from TrendForce, show that TPU generations are produced at TSMC using the foundry’s most advanced nodes. TSMC also provides advanced packaging such as CoWoS, which has been highlighted as a bottleneck in AI chip production due to surging global demand.
Broadcom as Google’s Co‑Design Partner
Broadcom plays a major role in developing Google’s custom AI chips. According to reporting by Network World citing Omdia, Google is expected to buy close to $10 billion worth of TPU silicon from Broadcom in 2024–2025. Broadcom handles much of the physical development, design translation, and coordination with TSMC.
Advanced Packaging and Integration
As TPUs scale in size, complexity, and HBM requirements, advanced packaging capacity becomes critical. TSMC leads this segment, though Japanese substrate suppliers like Ibiden and Shinko help support the overall ecosystem.
Key Public Companies That Benefit from Google’s TPU Ecosystem
TSMC (TSM)
TSMC is the primary manufacturer of Google’s TPU chips, providing both the cutting‑edge process nodes and advanced packaging steps. TPU demand contributes meaningfully to TSMC’s high‑performance computing (HPC) revenue segment, which now represents its largest growth driver.
Broadcom (AVGO)
Broadcom co‑designs the silicon and handles procurement for Google’s TPU systems. Its long‑term partnership with Google positions it to benefit from sustained demand as TPU deployments scale across Google Cloud. Broadcom has become one of the largest merchant suppliers of AI silicon due to this relationship.