Nvidia (NVDA) shares remain under pressure after a new report suggested that Alphabet (GOOGL) plans to supply its custom AI chips, known as TPUs (tensor processing units), to Meta Platforms (META). The news triggered new debate around whether Nvidia’s long-standing dominance in AI hardware may finally face real competition. Notably, NVDA stock fell over 4% at the close of Tuesday’s trading session, while Google stock climbed 1.5% on optimism that the company’s chip strategy is gaining traction with major enterprise buyers.
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With Meta now exploring TPU adoption, some investors see early signs that big tech buyers may start looking beyond Nvidia for cost savings and supply flexibility. While demand for AI hardware is still growing fast, these moves have raised fresh questions about whether Nvidia’s lead could narrow as competition builds.
Even so, many analysts remain confident in Nvidia’s long-term outlook, and Wall Street’s average price target still points to strong upside.
Top Analysts’ Views on NVDA Stock
Bank of America analyst Vivek Arya remains positive on Nvidia and does not see the Google–TPU news as a major threat. The analyst said Nvidia is set to grow revenue and earnings by more than 40%, yet the stock trades at about 25x earnings, which he thinks is too low for a company leading the AI chip market. He believes demand for Nvidia’s platform remains strong and steady.
The 5–star analyst also noted that Broadcom (AVGO) and Advanced Micro Devices (AMD) are gaining ground, but said the AI market is growing fast enough for more than one winner. While Broadcom may see faster growth in 2026 and AMD is building momentum with its CPUs and GPUs, he still sees Nvidia as the clear leader in AI computing.
Similarly, Mizuho analyst Vijay Rakesh continues to believe that ‘Nvidia Is Still the King’ in AI compute, even with Google expanding TPU use to Meta and other partners. He said demand for Nvidia chips still looks strong, noting that the company recently confirmed that its Blackwell platform is already sold out and is targeting $500 billion in AI revenue through 2026. In his view, this shows that major customers continue to rely on Nvidia for high-end AI systems.
Is Nvidia a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 39 Buys, one Hold, and one Sell assigned in the past three months. Further, the average NVDA price target of $257.26 per share implies 44.67% upside potential.
