In late January 2023, the launch of DeepSeek R1 triggered a sell-off in AI stocks, notably impacting Nvidia, which saw a 17% drop—losing nearly $600 billion in market cap. Recently, Nvidia faced renewed market jitters, losing $250 billion after Gemini 3, Google’s advanced AI model, gained traction. Gemini 3 Pro is a multimodal large language model (LLM) designed to process text, images, and audio with improved reasoning capabilities. Engineered on Google’s tensor processing units (TPUs), it aims to reduce dependency on Nvidia’s GPUs. The hype around Gemini 3 is bolstered by positive reviews from industry leaders like Salesforce’s Marc Benioff, marking it as a “state of the art” tool. Nvidia, however, insists that its GPUs remain superior, offering unmatched performance and versatility. Amid this competitive landscape, Nvidia is actively investing in partnerships to recapture market attention. The evolving AI landscape continues to challenge Nvidia’s dominance in the chip-making sector.
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