Nvidia shares plummeted over 3% after reports emerged that Meta Platforms is negotiating to spend billions on Google's AI chips, signaling a significant challenge to Nvidia's dominance in the AI chip market.

NVIDIA Corporation (NASDAQ:NVDA) is one of the Best Quantum Computing Stocks to Invest In Right Now. On November 20, analyst Mark Lipacis at Evercore ISI lifted the price objective on the company’s stock from $261 to $352,

Major technology companies report tangible gains thanks to AI, paving the way for more share price upside for one leading AI company.

Just when many investors thought that the AI trade as we knew it would go up in a poof of smoke, Jensen Huang’s GPU empire, Nvidia (NASDAQ:NVDA), posted a quarterly earnings result that was a lot better than expected.

AMD, Arm, and Broadcom are among the chip companies whose shares are up in premarket trading after Nvidia’s earnings eased fears of an AI bubble. Yesterday, after the stock market’s closing bell, Nvidia Corporation (Nasdaq: NVDA) reported its Q3 2026 financials.

Now, let's move along to the latest earnings report. In the third quarter of the 2026 fiscal year, Nvidia said revenue jumped 62% to $57 billion, and the company maintained a high level of profitability on sales -- we can see this through the gross margin level of more than 73%.

Investors are fretting that Nvidia's dominant market share could come under threat from Google parent Alphabet, and its AI chips.

Meta is reportedly considering buying Google's AI chips for its data centers in the coming years, adding to the selling pressure on Nvidia stock.