ByteDance reportedly close to reaching AI data center chip agreement with MediaTek; Qualcomm, Broadcom, Nvidia may face pressure

Zhitong Finance APP reported that Qualcomm (QCOM.US) and Broadcom (AVGO.US) stock prices have become the focus of the market after reports that ByteDance is close to reaching an agreement to purchase customized AI chips for data centers from Taiwan-based MediaTek. MediaTek will supply ByteDance with application-specific integrated circuits (ASICs), which are chips designed for specific computing tasks. MediaTek is a major supplier of Google's Tensor Processing Unit (TPU).