Google Expands Financing Efforts To Boost AI Chip Sales In Bid To Rival Nvidia: Report
Synopsis
According to a report from the Wall Street Journal, which cited people familiar with the matter, Google has amped up financial support to many of its data-center partners that provide computing power to customers.
Alphabet Inc.’s (GOOG) Google is reportedly trying out new financial plays as it seeks to increase market adoption of its artificial intelligence chips, in a bid to compete with Nvidia Corp. (NVDA).
According to a report from the Wall Street Journal, which cited people familiar with the matter, Google has amped up financial support to many of its data center partners that provide computing power to customers, in a move to expand its market potential.
Google is also reportedly mulling an investment of about $100 million in cloud-computing company Fluidstack, as part of a deal that values the startup at around $7.5 billion.
As per the report, Google is also speaking with other data center partners about increasing its financial commitments, hoping for additional TPU demand.
Shares of GOOG were up 4% at the time of writing.
Get updates to this developing story directly on Stocktwits.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.