"And there are signs of rising demand for Google's specialized AI chips, one of the few viable alternatives to Nvidia Corp.'s dominant gear. A report on Monday that Meta Platforms Inc. is in talks to use Google's chips sent shares of its parent Alphabet Inc. soaring. The stock has added nearly $1 trillion in market capitalization since mid-October, helped by Warren Buffett taking a $4.9 billion stake during the third quarter and broader Wall Street enthusiasm for its AI efforts."
"SoftBank Group, one of OpenAI's biggest backers, fell to a two-month low on Tuesday on worries about the competition from Google's Gemini. Nvidia shares fell as much as 5.51% on Tuesday, erasing $243 billion in market value. "Google has arguably always been the dark horse in this AI race," said Neil Shah, analyst and cofounder at Counterpoint Research. It's "a sleeping giant that is now fully awake.""
Analysts and technologists had declared Google behind after ChatGPT's launch, but new AI products and partnerships have shifted investor sentiment. Google released Gemini 3, a multi-purpose model praised for reasoning and coding and for handling niche tasks that challenged other chatbots. The company struck chip partnerships, including with Anthropic PBC, and demand for Google's specialized AI chips appears to be rising as a viable alternative to Nvidia hardware. Google's cloud business is growing due to global AI development and compute demand. Alphabet's stock has surged, adding nearly $1 trillion since mid-October, aided by Warren Buffett's stake.
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