Group 1 - The two best-performing stocks among the "Seven Giants" as of December 24 are Nvidia and Alphabet, with Nvidia's stock up approximately 36% to $188 and Alphabet's stock up about 65% to $315 [1] - Optimists believe that the tech stocks in the US will not experience a bubble in 2026, with an expected overall increase of over 20%, particularly for Nvidia and Alphabet, which have projected P/E ratios of 23x and 27x respectively [1] - Nvidia's stock has faced pressure due to a slowdown in AI spending and competition, but market confidence remains high despite these challenges [1] Group 2 - Nvidia's recent Blackwell chip and the upcoming Rubin chip are highly anticipated, with expectations that OpenAI will release the next-generation GPT model early next year, which may be trained using Blackwell [2] - The export outlook for Nvidia's GPUs to the Chinese market is more optimistic than before, with the H200 chip expected to bring additional benefits in 2026 [2] - Alphabet's Gemini 3.0 model, trained on custom chips developed with Broadcom, has drawn investor attention, but the market's focus is more on competition with OpenAI rather than direct threats to Nvidia's GPUs [2] Group 3 - Alphabet has developed its own custom AI chips (TPUs) over the past decade, which provide cost advantages in cloud computing and enhance the training of the Gemini large language model [3] - Gemini's market share is expected to grow rapidly in 2025, increasing from nearly zero to 13%, contributing to a significant rise in Alphabet's stock price [3] - Morgan Stanley estimates that deploying 500,000 TPUs could generate approximately $13 billion in annual revenue for Alphabet, with expectations of renting out 5 million TPUs by 2027 and 7 million by 2028 [3]