On this episode of Stock Movers:
- Alphabet (GOOG) shares rose more than 2% in postmarket trading after The Information reported Meta Platforms is in talks to spend billions of dollars to use Google’s AI-focused chips, known as TPUs, in their own data centers and also rent the chips from Google Cloud, citing a person familiar.
- Nvidia (NVDA) shares fell on a report that Meta Platforms Inc. is in talks to spend billions on Google’s AI chips, suggesting the internet search leader is making headway in efforts to rival the industry’s bestselling AI accelerator.
- Alibaba Group (BABA) posted better-than-projected 34% growth in its pivotal cloud business, highlighting the enormous demand for computing during China’s AI boom.
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