Alphabet shares surge as Nvidia CEO resignation shines spotlight on Google’s AI chips
Nvidia announced the immediate resignation of CEO Jensen Huang on November 12, prompting a 6% drop in Nvidia stock and a rally in Alphabet shares. Investors lifted Alphabet about 3% to $301.97, driven by expectations that Google’s Tensor Processing Units could capture AI‑chip demand. The rally was reinforced by Alphabet’s $10 billion commitment to Anthropic and a nearly $4 billion Asian bond issuance.
Why it matters
The company’s stock gain reflects heightened investor interest in Alphabet as a potential alternative to Nvidia’s GPUs, which could boost its cloud‑AI revenue. The Anthropic investment and bond raise provide additional financial flexibility and a large upside from the AI startup stake.
Key facts
- 1Nvidia CEO Jensen Huang resigned as president, chief executive and board member, effective immediately. 247wallst.com
- 2Alphabet stock rose 3% to $301.97 in Thursday trading. 247wallst.com
- 3Alphabet stock rose 2.7% to $301.40 in mid‑day trading. investing.com
- 4Google Cloud revenue grew 103% year‑over‑year to $30.71 billion in Q3 2026. 247wallst.com
- 5Alphabet committed $10 billion to purchase approximately 135 million Class N shares of Anthropic. investing.com
- 6Alphabet raised nearly $4 billion through Asian bond sales in Hong Kong and Singapore. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.