MediaTek's stock took a hard hit after a market rumour said Google's TPU customers were shying away from its chips, and the company calls the claim false.

• MediaTek shares fell 7% and dropped back below the NT$5,000 mark on the rumour.
• The story said end customers prefer Broadcom and Marvell, which have longer track records in mass production.
• MediaTek says it is a main supplier for Google's next two TPU generations and that the talk is untrue.
• Management recently raised its AI custom-chip market share target and expects its first AI accelerator to enter mass production this quarter.
• Nvidia put $3.5 billion into MediaTek's recent $3.9 billion convertible bond raise, taking almost the whole deal, with Google also joining.

Outlook: With chip production capacity, substrates and memory already locked in, MediaTek is sticking to its revenue targets for this year and next — the share price now hinges on whether TPU orders show up on schedule.