Tim Stenovec

This is Bloomberg Tech.

Welcome back to Bloomberg Tech.

I'm Tim Stenevek in New York, in for Caroline Hyde and Ed Ludlow.

Let's take a look at the markets.

Checking out the NASDAQ 100, slightly up on the day today.

Hopes of a Fed rate cut in the December meeting.

Meanwhile, also taking a look at Alphabet and NVIDIA.

NVIDIA facing concerns that its market share in semis used in AI computing is slipping.

Following a report suggesting Google's AI processors are gaining ground, Google down on the day 1.2%, NVIDIA higher by 1.8%.

This comes as NVIDIA celebrated Google's achievement earlier today, but also saying the chipmaker is still, quote, a generation ahead of the industry.

It's the only platform that runs every AI model and does it everywhere computing is done.

This is a tweet from the NVIDIA newsroom, or a post on X, I should say, from the NVIDIA newsroom.

Let's get more with Bloomberg Equities reporter Carmen Reinecke.

Carmen, it does seem like investors are starting to feel like Alphabet's Google could be gaining when it comes to market share in what Nvidia has absolutely ruled, but still the analyst community at this point is not really convinced.

What are your sources telling you?

Dominant player in the AI space, but in terms of stock performance this year, Alphabet has just been remarkable.

Close to 70% increase so far this year.

NVIDIA up about 35%.

That's nothing to shake a stick at.

Also, Alphabet approaching a $4 trillion market cap, where NVIDIA is above $4 trillion.