Alphabet(US:GOOGL) 智通财经网·2025-12-03 03:00Core Viewpoint - HSBC believes that Google's Gemini 3 series of large language models has mitigated potential disruption risks to its search business from generative AI, enhancing confidence in Google's ability to maintain and grow its market share [1]. Group 1: Analyst Insights - Analyst Paul Rossington considers Gemini 3 Pro to be superior to ChatGPT 5.1, which strengthens confidence in Google's search market position [1]. - Based on the positive outlook for Gemini 3, Rossington maintains a "buy" rating for Google and raises the target price from $335 to $370 [1]. Group 2: Future Projections - If Google successfully commercializes TPU externally, it could generate revenue equivalent to 10% of Nvidia's (NVDA.US) revenue by 2030, potentially adding about 6% to Google's current market value [1]. - There are reports that Meta (META.US) is in discussions with Google regarding TPU collaboration [1]. Group 3: Strategic Developments - The complete AI strategy is making substantial progress through the release of Gemini 3 and the potential external commercialization of TPU, which will inject new momentum into Google's long-term development prospects [2].