🚀 Nvidia facing competition from Google

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Market Overview
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Year To Date Performances:

1. Nvidia's shares dropped 3% following a market rumour that key client Meta might partner with Google to utilize its in-house Tensor Processing Units (TPUs) for data centers, signalling a potential threat to Nvidia's overwhelming 90%+ dominance of the AI chip market. In response, Nvidia issued a statement asserting its Blackwell GPUs are "a generation ahead of the industry," offering superior versatility, performance, and the unique ability to run every AI model, contrasting their flexible platform against Google's application-specific integrated circuits (ASICs), even as Google's TPUs gain increased attention—and internal validation via the training of its new Gemini 3 model—as a viable, albeit proprietary, alternative to the expensive but powerful industry standard.

2. The U.S. housing market is experiencing a significant freeze, with nearly 85,000 sellers—the highest September total in eight years—pulling their homes off the market, a 28% jump from the previous year, due to weak buyer demand and softening prices. This rapid surge in delistings stems from the fact that 70% of homes are sitting unsold for 60 days or longer, causing sellers to withdraw their properties rather than accept low offers, leading to a de facto reduction in actual available inventory despite a nominal year-over-year increase in listings, as homeowners opt to wait for the more favorable, higher-demand spring season, even as one-fifth of those delisted properties face the risk of selling at a loss.

3. Australia’s Consumer Price Index (CPI) accelerated to 3.8% year-on-year in October, marking the fastest pace of inflation in seven months. This exceeded economists' forecasts of 3.6%, primarily driven by a 5.9% surge in the housing sector due to sharply higher costs for new dwellings, rents, and electricity. This unexpected acceleration in inflation—coming despite the Reserve Bank of Australia holding interest rates steady at 3.6% earlier in the month—was compounded by the 37.1% jump in electricity costs as households utilized government rebates, leading to a higher-than-expected trimmed mean inflation rate of 3.3%, and reinforcing the central bank's cautious stance regarding further monetary easing due to strong consumer demand and a reviving housing market.

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