1) On December 8, according to Bloomberg, Wall Street's view on AI-related companies is changing: OpenAI is being sidelined and is no longer seen as the cutting-edge representative of AI, while facing questions about its profitability. Meanwhile, Alphabet is making a strong comeback with its substantial financial resources. The market's optimism towards Alphabet is not only due to Gemini; the company ranks third in market capitalization in the S&P 500 index and has a large amount of disposable cash, along with a series of advantageous related businesses such as Google Cloud, its emerging semiconductor manufacturing business, and the company's strengths in AI data, talent reserves, and distribution channels. Since 2025, the stock prices of a series of companies associated with OpenAI have risen by a cumulative 74%, a bright performance, yet far behind the 146% increase of stocks related to Alphabet. Lumentum, which provides optical components for Alphabet's data centers, has seen its stock price more than double this year, becoming one of the top 30 performing stocks in the Russell 3000 index. Tianhong, which provides hardware support for Alphabet's AI development, has seen its stock price rise by 252% cumulatively since 2025. At the same time, Broadcom, which designs and manufactures tensor processing units (TPU) chips for Alphabet, has seen its stock price increase by 68% since the end of last year.
