Alphabet Stock Could Soar as It Targets the $300 Billion AI Chip Market Dominated by Nvidia
Nvidia dominates the AI accelerator market, but Alphabet just became a more serious threat.
Overview
Nvidia (NASDAQ: NVDA) stock has advanced 1,300% since the artificial intelligence (AI) boom began in January 2023. The company's success, in terms of both financial results and share price appreciation, has been driven by its dominance in artificial intelligence accelerators, a market projected to top $300 billion this year.
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) has dabbled in AI accelerators for over a decade, but the company recently started selling custom silicon directly to customers, marking a more deliberate attempt to compete with Nvidia. Read on to learn more.
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Originally published at www.fool.com.
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