Google is reportedly in talks with Meta over chip issues, which has boosted Alphabet's pre-market stock price.
TL;DR
Google is reportedly negotiating with Meta to sell AI chips, boosting Alphabet's stock pre-market and potentially challenging Nvidia's dominance. This move coincides with positive news for Google's Gemini AI, affecting competitors like SoftBank.
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PANews reported on November 25th that social media giant Meta Platforms (META.O) is in talks to purchase artificial intelligence chips from Google (GOOG.O), causing Alphabet's (Google's parent company) stock price to rise in pre-market trading, while Nvidia's stock price fell. This could cost Nvidia a major customer and challenge the chipmaker's dominance in the field. Google's Gemini AI tool has also received new accolades in recent days, adding to the tech giant's market appeal and dragging down the Tokyo-listed stock price of SoftBank, a major investor in Gemini's competitor OpenAI.