Zhong Guo Ji Jin Bao·2025-11-25 08:57Group 1: AI Chip Market Dynamics - Google is making significant strides in the AI chip market, potentially challenging Nvidia and OpenAI, as Meta is reportedly in talks to purchase Google's AI chips, known as Tensor Processing Units (TPUs), for use in its data centers by 2027 [2][3] - Nvidia's stock has begun to show signs of weakness, with a pre-market drop of 2%, while Google's stock rose by 2.7% in after-hours trading following the news of the potential Meta deal [3][4] - The agreement with Meta would position TPUs as a viable alternative to Nvidia's chips, which are currently the industry standard for AI development [3][4] Group 2: Impact on SoftBank and OpenAI - SoftBank's stock plummeted, reaching a two-and-a-half-month low, as concerns grew over Google's Gemini AI model intensifying competition against OpenAI, a key investment for SoftBank [4][6] - SoftBank's stock experienced a significant drop of 11%, reflecting market anxiety about the competitive landscape for OpenAI following the positive reception of Google's Gemini 3 [5][6] - SoftBank's market capitalization has decreased by over 40% from its recent high, where it briefly surpassed 40 trillion yen (approximately $255 billion) [6] Group 3: A-Share Market Performance - The A-share market saw a collective rise, with the Shanghai Composite Index increasing by 0.87%, the Shenzhen Component Index by 1.53%, and the ChiNext Index by 1.77% [8] - A total of 4,300 stocks rose in the market, with 95 stocks hitting the daily limit up, while 993 stocks declined [9] - Stocks related to computing hardware surged, with companies like Dekor and Guangku Technology hitting the daily limit up [10]