According to Cailian News, on the morning of November 25, shares of NVIDIA fell sharply in the US stock market, dropping more than 7% at one point to $169.55, and had fallen more than 20% from its historical high recorded last month.

NVIDIA's partner, server manufacturer Supermicro, fell 3.2%, Oracle, which has committed to purchasing NVIDIA systems, dropped 2%, and data center operator CoreWeave fell 3.7%—NVIDIA holds a 6% stake in the company.

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Analysts believe that investors attribute this decline to the strong market interest in Google's self-developed AI chip, the Tensor Processing Unit (TPU).

On the same day, Alphabet's stock rose more than 3%, bringing its market value close to the $4 trillion mark. Last week, Google released its latest large language model, Gemini 3, and several industry experts believe it has "surpassed" OpenAI's GPT model. This model was trained using TPUs rather than NVIDIA chips.