Google Stock Forecast: TPU Growth Bolsters Alphabet's Challenge to Nvidia
Alphabet's (GOOGL) stock price has been impacted by recent market fluctuations, closing at $337.83 on September 23 after a big reverse momentum candlestick, resulting in a 3.80% decline.
This correction presents a buying opportunity as the company continues to innovate in areas such as cloud and artificial intelligence (AI).
Google Cloud's TPU growth has strengthened Alphabet's challenge to Nvidia, with Google Cloud CEO Thomas Kurian stating that the TPU accelerator business is more than twice the size of the next-largest hyperscaler accelerator business.
The company's focus on AI infrastructure, particularly TPUs, is increasing its competitiveness in related markets. As of now, there are no signs of this market becoming monopolistic, and Alphabet will continue to support Nvidia GPUs for their Cloud offerings.