GOOG After-Hours Surge Amid Meta TPU Talks: Market Impact on NVDA and META

On November 24, 2025, Alphabet Inc. (GOOG) shares surged ~2% in after-hours trading to $327 following reports that Meta Platforms (META) is considering deploying Google’s Tensor Processing Units (TPUs) in its data centers [3]. This news signals a potential challenge to NVIDIA (NVDA)’s dominance in AI GPUs, as Meta could reduce its reliance on NVDA’s chips. GOOG has rallied ~52% since mid-September, driven by positive reception of its Gemini 3 AI model and now the TPU news [0]. NVDA shares fell ~2.05% in after-hours trading, reflecting investor concerns over possible market share loss [0].

Internal data shows GOOG’s price rose from $245.14 (Sept 15) to $318.47 (Nov 24), a ~30% increase [0]. A dev.to report suggests Google could capture up to 10% of NVDA’s data center market share if Meta adopts TPUs, translating to a ~3% EPS boost for GOOG [1]. However, a Techmeme benchmark highlights NVDA’s H100/B200 chips have a ~5x tokens-per-dollar advantage over Google’s TPU v6e, which may limit GOOG’s market share gains [2].

1. Cross-domain Impact: Meta’s TPU consideration affects three major tech companies—GOOG (positive), NVDA (negative), and META (positive via cost savings).
2. Market Rotation: Capital is shifting from NVDA to GOOG, as seen in the zero-sum movement within the Nasdaq 100 [1].
3. Long-term Implications: This event could trigger a broader trend of cloud providers adopting alternative AI chips, challenging NVDA’s near-monopoly.

• GOOG
  : Opportunity to expand AI chip market share (up to 10% of NVDA’s data center revenue [1]) but risks include NVDA’s cost efficiency edge [2] and potential FOMO-driven volatility [3].
• NVDA
  : Risk of losing Meta’s GPU orders (a key customer) but opportunity to maintain dominance via its 5x cost advantage [2].
• META
  : Opportunity to reduce AI infrastructure costs (EPS boost via lower chip expenses [3]) but risks of integration issues with TPUs and potential performance gaps.

• GOOG’s after-hours surge to $327 on Meta TPU talks [3].
• GOOG’s ~52% rally since mid-September [0].
• NVDA’s ~2% after-hours drop [0].
• NVDA’s 5x tokens-per-dollar advantage over Google’s TPU v6e [2].
• Potential 3% EPS boost for GOOG if it captures 10% of NVDA’s data center market share [1].