Google unveils new Gemini 4 Hydrogen model, aimed at speed and efficiency

Alphabet's stock rose 1.8% while the Nasdaq fell 0.4%, as investors reacted to Nvidia's CEO resignation. Alphabet has expanded its chip lineup, launching the 8tx and 8i max TPUs, positioning itself to potentially gain market share in AI chips. Broadcom, Alphabet's design partner, also saw a 5.5% increase.

Nonprofits sued OpenAI, Anthropic, Google, and Meta in San Francisco, citing California's Unfair Competition Law to halt development of advanced AI models like ChatGPT, Gemini, and Claude. The plaintiffs argue the companies' practices pose public nuisances and risks. Anthropic's IPO, valued at up to $1.4 trillion, may be impacted if an injunction is granted. Gartner projects global AI spending to rise from $2.746 trillion in 2026 to $4.050 trillion in 2027.

Alphabet (GOOG, GOOGL) stock is rebounding toward $300 after an earnings miss, with Google Cloud revenue up 103%. Google's $10B investment in Anthropic raises questions about future spending. Q3 revenue grew 25% to $127.6B, but EPS missed estimates. Investors scrutinize infrastructure costs and free cash flow.

Arm CEO Rene Haas warns that global data center construction will shift away from the US if local opposition continues, citing 40 of 41 US data center ballot measures being rejected. Alphabet's $15B investment in Malaysia includes data center campuses. Analysts expect Arm's revenue to rise 70% over two years and Nvidia's to triple, with export controls on Nvidia's chips as a key risk.

An EU court adviser questioned a lower court's decision to overturn a €1.49B ($1.7B) antitrust fine against Google, potentially creating hurdles for the company. The fine was originally imposed on Google's AdSense business.

Alphabet, Google's parent company, reportedly received around $5B in orders for its first Hong Kong and Singapore dollar bond sales, according to Reuters. The deals, arranged by banks, include three parts. This marks a significant bond sale for the tech giant. (GOOG) (GOOGL)