"(Bloomberg/Subrat Patnaik and Sagarika Jaisinghani) A rally in Alphabet Inc. shares is poised to shake up the ranking of the world's most valuable companies, amid signs the search giant is making headway in efforts to rival Nvidia Corp.'s bestselling AI accelerator. That's prompting investors to reassess the technology landscape and the potential changes in stock market leadership, as rave reviews for Alphabet's new Gemini artificial intelligence model and demand for AI chips pushes its shares higher."
"Shares in the Mountain View, California-based firm rallied 2% to hit a $3.9 trillion market value. Its 37% rally since mid-October has added about $1 trillion in value over that time. Gains this year have left the Google parent about $300 billion away from Nvidia's $4.2 trillion market cap. Meta Platforms Inc. is in discussions to use Google chips known as tensor processing units, or TPUs in data centers in 2027, The Information reported, citing an unidentified person familiar with the talks."
Alphabet's shares climbed sharply, boosting its market value to $3.9 trillion after a 37% rally since mid-October that added about $1 trillion. Investor enthusiasm followed positive reception of the new Gemini AI model and stronger demand for AI chips. The surge narrowed the gap with Nvidia, leaving Alphabet about $300 billion behind Nvidia's $4.2 trillion valuation. Meta Platforms is reportedly in talks to use Google's tensor processing units (TPUs) in data centers in 2027 and may rent chips from Google's cloud next year. Nvidia shares pulled back and its forward multiple decreased, while Alphabet's forward multiple rose above its long-term average.
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