Nvidia is rolling out Blackwell, its next-generation AI chip architecture. Meanwhile, Broadcom is chasing what could be a $90 billion opportunity by 2027.

The competition for leadership in the AI chip market is intensifying, with Broadcom Inc. positioning itself as a formidable challenger to Nvidia Corporation in the years ahead.

This year has been one of milestones for top tech company Nvidia (NASDAQ: NVDA). Nvidia also won a spot among the elite, with an invitation to join the Dow Jones Industrial Average, and the stock became the best performer on the benchmark for the year.

Nvidia is one of the most popular AI stocks right now because of its lead in the semiconductor space. The company's graphics processing units (GPUs) have been used in data centers for years, and once tech giants began competing for generative AI dominance, the chips were even more in demand.