Fractured AI: Alphabet’s Breakout, Nvidia’s Jitters

In this pre-holiday edition of the Business News Podcast, we walk straight into one of the most volatile weeks of the year and unpack why markets suddenly feel so fragile, even as major indexes bounce. The headline story: the once-unshakable AI trade is starting to fracture. Alphabet’s surge on the back of its new Gemini 3 model and custom TPUs is forcing investors to rethink NVIDIA’s dominance and, more importantly, to distinguish between who wins at training AI and who wins at running it at scale. The result is a shift from “buy everything with AI in the label” to a far more selective, nerve-wracking game of picking a few true winners.

From there, the episode dives into the bigger AI and geopolitics picture. You’ll hear how U.S. export controls on high-end chips to China, and NVIDIA’s attempts to keep a foothold in that m ...