Nvidia rarely released a statement emphasizing that its GPUs are still leading in performance and have "versatility" to run all AI models; while Google TPUs are dedicated chips with single functions and limited capabilities.
However, Nvidia only emphasized "technology leadership" and "universality" and did not mention the key "cost benefits".
I feel that nvda is a bit anxious - if TPU is not a threat at all, there is no need to make a special statement, and even directly "call the competitors".
Of course, this may just be a dramatic fluctuation in the stock price, with simply trying to calm investors' emotions.
Anyway, the era of "one family dominance" by nvda has passed, and the market has officially entered the Warring States era of "the contention of a hundred schools of thought".
Google has demonstrated with Gemini 3 Pro that the "self-developed chip" route is completely feasible—not only saves money, lower energy consumption, but also frees itself from supplier dependence.
This is bound to accelerate the investment of giants such as Meta, Microsoft, and Amazon in their own developed chips.
But this does not mean that nvda's needs will disappear, or perhaps even greater.
Although giants can handle mature businesses such as reasoning with their own chips, developers still need the ultimate "versusability" and strong CUDA ecosystem for developing new generation models and trying out new architectures.
As long as AI innovation doesn't stop, Nvidia is an indispensable heavy equipment in the arsenal.
A Google spokesperson also confirmed that in the future, the "two-track parallel" strategy will be adopted, and both TPU and GPU will be used.
For Nvidia, I think the biggest hidden concern is not the disappearance of demand, but the decline in its bargaining power.
When major customers have self-developed chips in their hands, Nvidia's pricing power will inevitably be challenged, and the future gross profit margin will also be under pressure.
But in the gold-digger of AI, Nvidia, who sells shovels, is still in an excellent position. The emergence of competitors precisely proves that the AI market is rapidly expanding.
Even though nvda can no longer monopolize all the profits, its moat remains unfathomable
The more panicked the market is, the better opportunities are often
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