✅ Final Thoughts Friday for 2025-11-28

Google TPU custom silicon and value chain implications

November 28, 2025

The story that caught my eye this week was an audacious attempt by Google to turn its custom silicon advantage into an external revenue stream. By pitching TPUs directly to the largest customers AND rivals like Meta, Google is potentially disrupting NVIDIA’s pseudo-monopoly gross margins.

As for why this caught my eye, NVIDIA’s defensive “delighted” PR message was worded in a very “happy for you” meme way and the reactions from the community have been fascinating. But, by way of analogy, if David Bar can buy up EPG, then perhaps NVIDIA can buy up HBM.

Or, said another way, NVIDIA’s wording may be a subtle attempt to get ahead of future government regulatory bodies that could delay (prevent?) value chain vertical integration M&A approvals that would harm competition. Then again, any OLESTRA / EPG to HBM / SRAM analogies could lead to more (unique) digestive discussion than these very different industries would care to encourage.

Flaky crust vs. antitrust, anyone? 🍪🤖

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