The Competitor Landscape: Alternative Ecosystems at Scale

Alternative chips have achieved meaningful scale but remain far from displacing NVIDIA.

Market Overview

• Total Market: $307.5B (2022-2025)
• Total Chips: 20.3M units shipped
• NVIDIA Dominance: 78.6% revenue share, 65.9% compute share

Key Insight: Scale ≠ Displacement. Alternatives grow, NVIDIA holds.

The Competitors

NVIDIA (Dominant)

• 65.9% Compute Share
• $241.7B Revenue (78.6%)
• 92% GPU Share

Google TPU (Best Value)

• 13.3% Compute Share
• $23.9B Revenue (7.8%)
• $5,579/H100e — Best value
• TPU v7 Ironwood Nov 2025
• Cloud-only access

Amazon Trainium (Internal Focus)

• 10.9% Compute Share
• $9.7B Revenue (3.2%)
• 2.5M chips projected 2024-25
• $125B CapEx 2025
• Cost optimization focus

AMD MI300X (Credible Challenger)

• 5.8% Compute Share
• $9.8B Revenue (3.2%)
• Meta 100% Llama on MI300X
• OpenAI 6GW deal
• ROCm improving

Huawei Ascend (Geopolitical Alt)

• 4.1% Compute Share
• $22.0B Revenue (7.2%)
• 910C 2.7x beats H20
• 600K chips 2025
• China market only

Cost per H100-Equivalent Compute

• Google TPU: $5,579 — Lower cost
• Amazon: $7,200
• AMD: $12,500
• NVIDIA B300: $17,000
• Huawei: N/A (China market)

→ Higher cost

This is part of a comprehensive analysis. Read the full analysis on The Business Engineer.