Just a few months ago, analysts and investors were openly questioning Alphabet's ((GOOGL) future, arguing that large language models would cannibalize search and erode its core business. Today, the narrative has flipped. Alphabet now appears to have one of the leading LLMs in the market and is rapidly emerging as a major AI infrastructure provider through its TPU ecosystem. I noted the valuation disconnect at Alphabet here, and the company is now proving why that pessimism was premature. The latest catalyst ...

Skip to content S&P 500 6,747.90 +0.52% Dow Jones 47,025.80 +1.18% Nasdaq 100 24,912.60 +0.01% Russell 2000 2,458.88 +1.68% FTSE 100 9,616.30 +0.76% Nikkei 225 48,925.00 -1.27% Stock Market Live November 25: S&P 500 (SPY) Little Changed in Short Holiday Week Investing Jensen Huang Says "AI is Going Everywhere, Doing Everything,†—Time to Get Back Into the Oversold AI Stocks? Quick Read ByJoey Frenette 5 minutes ago Oracle (ORCL) fell 38% from its highs despite a prior blowout quarter that sent shares up 35 ...

Everyone on Wall Street has the same Nvidia Corp (NASDAQ:NVDA) debate — "how big is AI demand?" — and almost no one is asking the only question that actually matters: how long can Nvidia keep taxing hyperscalers at 70%+ margins before they revolt? Because the real threat to Nvidia isn't a competing GPU. It's Alphabet Inc‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google's TPU — and what it represents: the moment hyperscalers stop outsourcing the most profitable part of AI.Track NVDA stock here.TPUs Aren't Trying To Bea ...

Core Viewpoint - Nvidia remains confident in its market position despite concerns about competition from Google, asserting that it is a generation ahead in AI technology and is the only platform capable of running every AI model across all computing environments [1][3]. Company Insights - Nvidia's stock experienced a decline of over 3% following reports that Meta is considering a partnership with Google to invest billions in Google's chips for its data centers [2]. - Nvidia expressed satisfaction with Google's advancements in AI and reaffirmed its ongoing supply relationship with Google [2][3]. - Nvidia reported strong earnings for the third quarter, which initially alleviated market fears regarding an AI bubble, although concerns resurfaced shortly thereafter [5]. Industry Dynamics - Google is experiencing increasing demand for both its custom TPUs and Nvidia GPUs, indicating a collaborative approach in the AI sector [4]. - Google's recent launch of Gemini 3 has received positive feedback, showcasing its competitive edge in the AI race [4]. - Google benefits from a "full-stack" advantage, allowing it to manage the entire AI process from research to cloud hosting [4].

Core Insights - Nvidia addresses market concerns regarding Meta Platforms potentially using Google's tensor-processing units for AI workloads, asserting its leadership in the industry and claiming its platform is a generation ahead [1][3] - The company emphasizes the superior performance and versatility of its GPUs compared to specialized ASICs, positioning itself as essential for AI innovation [2] - Despite Nvidia's reassurances, its stock experienced a decline, reflecting investor caution amid fears of revenue risk due to Meta's potential shift [4][7] Company Positioning - Nvidia claims to be the only platform capable of running every AI model across all computing environments, highlighting its competitive advantage [1][2] - The company expresses confidence in its long-term competitive edge, even as competitors like Google enhance their AI hardware offerings [3] Market Reaction - Nvidia shares fell by 3.2%, closing at $176.68, amid broader pressure on tech indices, while Alphabet's stock gained due to positive investor sentiment regarding increased demand for its chips [4][7] - Analysts suggest that while the Meta-Google development poses a potential threat, Nvidia's extensive ecosystem and unmatched versatility help mitigate immediate risks [8]

Core Insights - The significant increase in stock prices over recent years has been largely driven by substantial corporate cash spent on share buybacks by major tech companies, totaling $1.1 trillion over five years [1][2] Group 1: Share Buyback Overview - From Q3 2020 to Q3 2025, six companies—Apple, Alphabet, Microsoft, Oracle, Meta, and Nvidia—spent a total of $1.1 trillion on share buybacks, reflecting actual expenditures rather than future announcements [2] - Apple led the share buyback efforts with $437 billion, followed by Alphabet at $281 billion, Meta at $151 billion, Microsoft at $107 billion, and Nvidia at $87 billion [4] Group 2: Funding and Debt Implications - Some share buybacks were financed through borrowed funds, resulting in significant debt on the balance sheets of these companies: Apple has $112 billion, Microsoft $120 billion, Meta $50 billion, and Alphabet $30 billion [5] - Nvidia has notably increased its buyback program in 2024, spending $43 billion on share buybacks over the past four quarters [4] Group 3: Strategic Shifts - Amazon has ceased its share buyback program since 2022 to allocate funds towards capital expenditures, particularly in AI infrastructure, indicating a potential trend for other companies to follow [3] - The ongoing competition in AI spending among these companies suggests a strategic shift where the focus may move from share buybacks to investments in technology [5]

Welcome to Market Catalyst. I'm Julie Hyman. We are 30 minutes into the US trading day and here's what we're watching today. First up, we'll have full coverage on the AI trade as Alphabet puts pressure on Nvidia. Plus, we'll hone in on retailers as Best Buy, Dixs, Abocrammy, and more report their numbers. and we'll speak with the CEO of Stu Leonards about the cost of a Thanksgiving dinner this year. Let's take a look at the major averages and the action that we are seeing today. It's a mixed picture. The Do ...

Core Viewpoint - Nvidia asserts its technology remains a generation ahead of the industry in response to Wall Street concerns regarding Google's AI chips potentially threatening Nvidia's dominance in AI infrastructure [1] Group 1: Company Positioning - Nvidia expresses satisfaction with Google's achievements in AI, indicating a willingness to continue supplying products to Google [1] - The company claims to be the only platform capable of running all AI models across various computing scenarios, highlighting its competitive edge [1] Group 2: Competitive Landscape - Reports suggest that Meta, a significant customer of Nvidia, may enter an agreement with Google to utilize Google's Tensor Processing Units (TPUs) in its data centers [1] - Nvidia emphasizes that its chips are more flexible and powerful compared to ASIC chips like Google's TPUs, which are typically designed for single companies or specific functions [1]

Market Overview - The US trading day shows mixed results with the Dow up approximately 140 points, while the S&P 500 remains relatively unchanged and the NASDAQ down by about 0.4% [1] - November consumer confidence data from the Conference Board came in lower than expected at 88.7%, compared to an estimate of 93.3% [1] Alphabet and Nvidia - Alphabet's market cap is approaching $4 trillion, currently at approximately $3.394 trillion, with shares up by 2% following reports of Meta purchasing Tensor Processing Units from Google instead of Nvidia [1] - Nvidia's shares are down by 6%, contributing to a decline in the semiconductor sector, with ARM down nearly 5% and AMD down 8% [1] Retail Sector Performance - Retailers are reporting mixed earnings, with Kohl's shares up 34% after announcing a permanent CEO and strong earnings, while Abercrombie shares rose by 22% despite a poor year-to-date performance [1] - Dick's Sporting Goods reported a 5.7% increase in comparable sales, but its stock is under pressure due to concerns over its acquisition of Foot Locker [1][2] - Best Buy's same-store sales increased by 2.7%, marking its best performance in a while, driven by strong product cycles in computing and gaming [2] Consumer Spending Trends - Mastercard's report indicates that Americans are expected to spend 3.6% more on holiday shopping in 2025 compared to the previous year, despite concerns over affordability [2][3] - Inflation for holiday goods is running just above 2%, suggesting real spending growth is occurring [3] Airline Industry Insights - Delta Airlines CEO Ed Bastian highlighted the challenges faced due to a government shutdown, which caused significant disruptions in flight operations [5][6] - The airline industry is experiencing staffing shortages and aging infrastructure issues, which need modernization to improve efficiency and safety [5][6] Alibaba's Financial Performance - Alibaba reported a 5% quarterly revenue gain, with a 34% increase in its AI division, but earnings fell by 72% due to heavy investments in AI and quick commerce [6] - The company faces challenges in achieving profitability despite strong revenue growth, raising questions about the sustainability of its investment strategy [6]

Nvidia's website touts its work with companies like ZTE, which has been effectively banned from selling its products in the U.S. for years over national security concerns.Read more: https://t.co/ZniwTBhiuJ https://t.co/zphZ2ao4lI ...