This article first appeared on GuruFocus.

Microsoft (NASDAQ:MSFT) is reportedly preparing to unveil its next-generation Maia 300 AI accelerator, a move Wedbush says could create a meaningful new opportunity for Marvell Technology (NASDAQ:MRVL) and Taiwan Semiconductor Manufacturing (NYSE:TSM). The key issue for investors is whether Microsoft can finally turn its years-long custom-chip effort into large-scale production, potentially creating a sizable new revenue stream for its semiconductor partners while reducing some dependence on Nvidia (NASDAQ:NVDA) hardware.

Marvell designs data-center and networking semiconductors, including custom silicon used by large cloud providers. Unlike chip manufacturers, Marvell primarily generates revenue by designing specialized processors and connectivity products that are manufactured by foundries such as TSMC.

Microsoft could unveil the Maia 300 as soon as this fall, according to media reports cited by Seeking Alpha. The company has reportedly discussed securing TSMC manufacturing capacity for more than 300,000 chips scheduled for delivery in 2027.

That potential volume is why Wedbush analyst Matt Bryson sees upside for Marvell and TSMC.

Microsoft has struggled to hit expectations with Maia to date (and in general Microsoft’s historical execution with hardware has been lacking), Bryson wrote. Having said this, MSFT’s development efforts are approaching the multi-generation timeline where historically silicon development has seemed to gain traction (e.g., 45+ years and 3rd generation). And if a large order materializes, Marvell (and TSMC) should be the direct beneficiaries of MSFT’s success.

Microsoft introduced its original Maia program in November 2023 and unveiled Maia 200 in January. Maia 300 would represent another attempt by the software giant to lower AI inference costs through internally developed silicon.

Wedbush also sees implications for Nvidia (NASDAQ:NVDA), though Bryson believes the GPU leader faces limited near-term disruption because Nvidia has done a superior job ensuring material supply.

Investor Takeaway On Microsoft Stock

For Marvell investors, the biggest question is whether Microsoft’s reported 300,000-plus-unit capacity discussions translate into firm production orders. A major Maia ramp could strengthen Marvell’s custom-silicon growth story and provide greater visibility into AI-related revenue.

Investors should watch Microsoft’s Maia 300 launch this fall, confirmation of Marvell’s role in the program, and any indications about 2027 production volumes. Execution remains the central risk: Microsoft has historically struggled to scale proprietary hardware programs. For TSMC, meanwhile, another hyperscaler AI chip reaching volume production would reinforce demand for advanced foundry capacity even as cloud companies increasingly design alternatives to Nvidia GPUs.