NVIDIA dominates the market with 92% share… Blackwell-Rubin order backlog alone reaches $500 billion
Google declares independence with its own TPU chip… Reduce ‘Nvidia dependence’ by reviewing external sales
Nvidia if you want high profits, Alphabet if you want diversified stability… Depending on investment inclination
“Both stocks have attractive valuations”… Sufficient long-term investment value expected after 2026
As the artificial intelligence (AI) revolution is reorganizing the global economic structure, investors’ attention ahead of 2026 is focused on Nvidia, the ‘king of AI chips’, and Google, which is aiming for a counterattack with a ‘customized chip TPU (tensor processing unit).
Experts analyze that both companies have strong competitiveness, but the choice will differ depending on investment style.
NVIDIA, overwhelming dominance and ‘Blackwell’ effect
According to Motley Fool, an American investment media outlet, on the 18th (local time), Nvidia currently dominates the AI chip market. The GPU market share for data centers reached approximately 92%, and sales and profits recorded explosive growth.
NVIDIA’s greatest strength is its constant innovation. It has already signed orders worth $500 billion for the next-generation chip, Blackwell, and its successor, Rubin. As long as hyperscalers (very large companies that operate large-scale data centers and dominate the world’s IT infrastructure) continue to build infrastructure, NVIDIA’s sprint is not expected to stop. However, since the business structure is focused on data center chip sales, the fact that stock price volatility may increase if the investment cycle slows is considered a risk.
Google, ‘Iron Ongseong’ built with its own TPU chip
Google’s parent company, Alphabet, is Nvidia’s largest customer and also its most threatening potential competitor. Alphabet has been developing its own TPU (Tensor Processing Unit), a chip dedicated to machine learning, to reduce its dependence on Nvidia chips.
Alphabet has already successfully trained its latest AI model, ‘Gemini’, with TPU, and is even considering selling it to other companies such as Meta. Even if external sales do not occur, billions of dollars in cost savings through the use of its own chips solidly support Alphabet’s profitability. Because it has a strong main business of advertising and cloud, its stock price support level is evaluated to be higher than that of Nvidia.
Investment strategy for 2026: Return or stability?
The battle between the two companies is boiled down to a battle between ‘maximum profits’ and ‘stable diversification.’
NVIDIA: Suitable for aggressive investors who believe in seizing opportunities from the very beginning of the AI market and aim for maximum returns as the market grows.
Alphabet: It has a portfolio of new industries such as autonomous driving (Waymo) and quantum computing, and is attractive to investors who want stable growth with relatively low volatility.
An official in the financial investment industry advised, “Both stocks are currently trading at reasonable valuations relative to future growth expectations,” and added, “If it is a long-term investment looking beyond 2026, both companies are worthy of being key beneficiaries of the AI era.”
Taejun Lee, Global Economics Reporter tjlee@g-enews.com
[알림] This article is for reference only when making investment decisions, and we are not responsible for any investment losses based on it.
