Alphabet’s stock slips as Nvidia’s $500 billion financing deal threatens custom chips

Alphabet stock has declined following Nvidia's announcement of a $500 billion financing initiative with six major Wall Street asset managers. This strategic move aims to transform AI chips into a new asset class for borrowing, similar to commercial real estate. Investors fear this financing model will reshape AI infrastructure investment and directly threaten Google's custom chip business. By partnering with global financial giants, Nvidia is challenging the market positions and internal chip strategies of major tech giants.