Alphabet shares rise after report co in talks with Meta to supply AI chips
Shares of Alphabet GOOGL.O rise 3.1% to $328.64 premarket after The Information reports co in talks with Meta Platforms META.O to supply AI chips
Report says META is exploring a multibillion-dollar deal to use Google’s AI chips in data centers from 2027
Talks include renting Google Cloud’s tensor processing units (TPU) as early as next year, offering alternative to supply-constrained Nvidia NVDA.O chips
Google aims for TPU business to capture 10% of Nvidia’s AI chip revenue; pitches TPUs as cheaper, security-focused option
Meta has been among Nvidia’s biggest customers since 2022; has pledged $600 bln U.S. investment over three years, including AI infrastructure
GOOGLE, META and NVDA did not immediately respond to Reuters requests for comment; Reuters could not immediately verify the report
Alphabet shares up 68.29% YTD, as of last close
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