By Jennifer Sor
Publication Date: 2025-11-25 14:16:00
It’s increasingly looking like Nvidia isn’t the only game in town when it comes to AI-enabling hardware.
Nvidia stock dropped on Tuesday as investors took in a report that Meta could buy billions worth of Google’s AI chips in the coming years. The Facebook parent is currently one of Nvidia’s biggest chip customers.
Nvidia, the biggest company in the world by market cap, saw shares fall 6% after rising 2% in Monday’s session. Alphabet stock jumped as much as 4%.
But Nvidia wasn’t the only chip name to suffer sharp losses. AMD was down as much as 10%, Intel stock fell 1%, and Micron Technology and Taiwan Semiconductor Manufacturing each lost 3%. The losses among top chip names dragged the Nasdaq lower by 1%, outpacing the losses in the other major indexes.
Here’s where US indexes stood at 10:15 a.m. ET on Tuesday:
The Information reported that Meta could incorporate Google’s tensor processing units in its data centers several years from now, and could start renting TPUs from the company as soon as next year.
Meta, one of the most voracious spenders in the AI trade, has said it could spend as much as $72 billion on capital expenditures next year, much of which is expected to be invested in AI infrastructure.
“Google Cloud is experiencing accelerating demand for both our custom TPUs and NVIDIA GPUs; we are committed to supporting both, as we have for years,” an Alphabet spokesperson told Business Insider.
Meta and Nvidia did not immediately respond to a…
