Nvidia faces a leadership probe and increased competition from Google's upcoming AI chips, which analysts estimate will cost 30% less than Nvidia's current GPU offerings.
The board announced an investigation into CEO Jensen Huang over reports he was targeted by foreign intelligence, wiping more than $250 billion in market value on Monday, with shares down 4.3-5%. Adding to pressure, Google's TPUs cost about 30% less than Nvidia's GPUs, threatening pricing and market share. The board's expressed confidence in Huang is a partial counterweight.
Google plans two specialised TPUs next year targeting confidential computing and data-heavy applications like coding and drug discovery. Bloomberg Intelligence estimates TPU sales could exceed $135 billion by 2028, up from about $12 billion this year, with chips about 30% cheaper than Nvidia's GPUs. Google shares rose 3.4% as the Nasdaq surged more than 2%.
The article's live headlines show a Nvidia-led tech selloff weighing on crypto majors and Bitcoin remaining under pressure even as stocks later surge. A continued Nvidia-driven tech unwind would keep pressure on Bitcoin, though the newsletter headlines are only passing mentions.
Nvidia shares fell 4.3% on Monday after the board launched an investigation into CEO Jensen Huang regarding reports he was targeted by foreign intelligence. The company lost over $250 billion in market value as Google announced plans to launch two new AI chips next year that are estimated to cost 30% less than Nvidia's GPUs.
Its board announced an investigation into CEO Jensen Huang over reports he was targeted by foreign intelligence, and the company lost more than $250 billion in market value on Monday, with shares down around 4-5%.
Google plans two new TPUs next year, and analysts estimate they cost about 30% less than Nvidia's GPUs, which could pressure Nvidia's pricing and market share.
One TPU targets confidential computing for customers handling sensitive information, while the other supports applications requiring larger volumes of data, including coding and drug discovery.
The article's headlines indicate a Nvidia-led tech selloff has weighed on crypto majors, and Bitcoin remained under pressure even as stocks surged.