Google Nears $4T Market Value, Challenges Nvidia

On November 25, Bloomberg reported that Alphabet's stock is shaking up the global market-value leaderboard as Google's in-house AI chips gain traction and start to look like real rivals to Nvidia's best-selling accelerators.

Momentum has been building around Google's new Gemini 3 model, which has drawn strong early reviews, alongside growing interest in its AI hardware. Together, they've pushed Alphabet shares higher and prompted investors to rethink who leads the next phase of big tech.

Since mid-October last year, Alphabet's stock has surged about 35%, adding close to $1 trillion in market value. So far this year alone, its valuation is up more than $1.5 trillion. By Monday's close, Alphabet was still trailing Nvidia by roughly $590 billion against Nvidia's about $4.4 trillion capitalization—but the gap is narrowing.

Industry chatter is also heating up. According to The Information, Meta is in talks with Google to deploy Google's TPU (Tensor Processing Unit) in Meta's data centers by 2027, and may start renting chips from Google's cloud operations as early as next year. If that happens, it would help position TPUs as a credible alternative to Nvidia hardware, which currently sets the pace for compute-hungry AI work at companies like Meta and OpenAI.

In pre-market trading Tuesday, Alphabet was up as much as 3.5%, eyeing a third straight gain. Most big tech names moved higher as well, while Nvidia slipped 2.59%. Apple rose 0.38%, Microsoft 0.63%, Amazon 1.5%, Broadcom 1.87%, Meta 3.78%, and Tesla 0.39%.