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00:02Alphabet rose, and Nvidia fell on Tuesday as investors shifted positions in the AI trade,
00:08according to the Wall Street Journal. Alphabet edged closer to a $4 trillion valuation
00:13after reports that Meta is in talks to spend billions on Google's AI chips.
00:18Nvidia slid after reaching a $5 trillion valuation weeks ago and has dropped 12% this month,
00:23while Alphabet has gained 15%. Investors rewarded Alphabet for its AI work,
00:29cloud and chip production, and strong advertising and search businesses.
00:33Nvidia and several other AI-linked stocks declined as concerns grew about competition,
00:39spending, and circular financing. Nvidia also circulated a memo rebutting comparisons to
00:44past accounting scandals, which analysts said made the company seem defensive.
00:49Gore Sahakian, chief investment officer of the Hovnanian Family Office,
00:53said stocks are rising on expectations of a Fed rate cut, hopes for a Ukraine peace deal,
00:58and easing tariffs, while noting that the Trump administration is working to address prices.
01:03For all things money, visit Benzinga.com.
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