Nvidia Shares Dip on News that Meta is Buying Google Chips

Nvidia shares fell after reports that Meta is in talks to spend billions of dollars on Google’s AI chips.

The tech giant’s rally is threatening the standings of the world’s most valuable stocks. (Photo: NVIDIA X)

This suggests the internet search leader is making headway in its efforts to rival Nvidia’s bestselling AI accelerator, Tiago Ramos Alfaro reported for Bloomberg News.

Alphabet’s shares gained, with The Information’s story adding to a recent surge fueled by optimism over the latest version of its Gemini model. The tech giant’s rally is threatening the standings of the world’s most valuable stocks.

Michael Burry is standing by his criticism of Nvidia. The US investor — who became famous for his bets against the housing market during the 2008 financial crisis and later for being portrayed by Christian Bale in The Big Short — has warned about market exuberance.

Burry’s remarks come as concern grows about a possible bubble and the tight links between various elements of the AI ecosystem.