Nvidia Shares Slip 1.4% as Google TPU Deals Intensify AI Chip Competition Concerns

Nvidia (NVDA) shares closed down 1.4% at $225.51 on Wednesday, stalling a run toward its all-time closing high of $235.74 set on May 14, as investor worries over rivals eroding its AI chip dominance resurface. At the center of the pressure is Alphabet's (GOOGL) Google and its TPU, designed with Broadcom (AVGO). The Information reported that Anthropic is in talks to lease up to 1GW of computing capacity from Stream Data Centers, most of it powered by TPUs. A week earlier, a 10-bank syndicate agreed to a $22 billion loan for Crux AI, a Blackstone- and Alphabet-backed cloud startup, to buy TPUs. The threat may be overstated. Anthropic recently signed a $35 billion cloud deal with Lambda and a $45 billion agreement with Nvidia-backed Nscale, both using Nvidia chips. Still, Anthropic confirmed in August it is building an in-house chip team, following OpenAI.