OpenAI Jalapeño Chip With Broadcom Escalates Assault on Nvidia at $200.32

Nvidia closed at $200.32 on June 26 as OpenAI unveiled its custom Jalapeño inference chip developed with Broadcom, joining Google and Amazon in accelerating hyperscaler custom-silicon efforts. The move follows weeks of mounting pressure, including CEO Jensen Huang’s repeated warnings on electricity shortages and extreme heat from next-gen chips like Vera Rubin. Despite the competitive threat, Nvidia posted robust Q1 results with $81.6B revenue (+85% YoY), 85-92% data-center GPU share, and $1T in Blackwell/Rubin orders, while investors rotated toward power and infrastructure names.