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Nov 26, 2025
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Supported by
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Happy Wednesday! Nvidia stock falls after The Information's reporting that Meta Platforms is in talks to use Google's TPU. TikTok hires a former Boeing executive to head its U.S. public policy. TSMC sues a former executive who left to join Intel.
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Nvidia stock fell as much as 7% on Tuesday, following The Information’s reporting that Meta Platforms is in talks with Google to spend billions of dollars to put Google’s TPU chips into its data centers in 2027. Shares closed down 2.6%, representing a $115 billion drop in the company’s market value. Nvidia posted on X on Tuesday, “We’re delighted by Google’s success — they’ve made great advances in AI and we continue to supply to Google. NVIDIA is a generation ahead of the industry — it’s the only platform that runs every AI model and does it everywhere computing is done.” In addition to the Meta deal, The Information reported that Google is pitching large financial institutions on the idea of using TPUs in their own data centers as part of a program called “TPU@Premises,” as Google tries to compete with Nvidia for the vast market of putting chips in companies’ own on-premise data centers. The share price of Alphabet, Google’s parent company, rose about 1% on Tuesday. Analysts on Tuesday attributed the stock moves to The Information’s reporting, noting that companies are looking for an alternative to reduce reliance on Nvidia.
Brad Erickson at RBC Capital Markets wrote that Google’s share increase was “warranted where the market is better appreciating GOOGL’s fully flanked AI strategy,” including Search and Cloud.
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TikTok has hired former Boeing executive Ziad Ojakli to lead its U.S. public policy operations, replacing outgoing policy lead Michael Beckerman, who announced earlier this year that he was stepping down. Ojakli, who previously served as Boeing’s vice president of government operations and worked in the White House under George W. Bush, is entering TikTok at a thorny moment as the company navigates ongoing uncertainty over the proposed sale of some of its U.S. business. President Donald Trump in September signed an executive order approving the deal, which involves a new joint-venture ownership company. But details about the deal, including the investor lineup and what exactly is being sold, remain unclear. Ojakli will start on December 1, according to an internal note to TikTok employees.
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Taiwan Semiconductor Manufacturing Co. filed a lawsuit on Tuesday against a former 75-year-old senior vice president who left the company in July for Intel, alleging he likely leaked trade secrets to his current employer. The world’s largest chipmaker said that Lo Wei-jen violated a non-compete agreement and lied about his departure during the exit interview, telling the company that he was taking an academic job instead of a competitor like Intel. When asked about Lo joining Intel last week in an interview with Bloomberg, CEO Lip-Bu Tan said that he didn’t commit any wrongdoing, and that the company respects intellectual property rights. Intel did not respond to requests for comment on the lawsuit. Lo can’t be reached for comment. The lawsuit marks an
escalation in the competition between TSMC and Intel, the American chipmaker that has been struggling to catch up. “There is a high probability that Lo uses, leaks, discloses, delivers, or transfers TSMC’s trade secrets and confidential information to Intel, thus making legal actions (including claiming damages for breach of contract) necessary,” TSMC said in a statement.
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Klarna, the Swedish buy-now-pay-later provider, said it will launch a U.S. dollar-backed stablecoin, KlarnaUSD, in 2026, as a way to reduce costs for consumers and merchants. Klarna, which went public in September and has 114 million customers, will use Stripe-owned Bridge to issue the stablecoin, which will run on the Tempo blockchain co-developed by Stripe and Paradigm. With the stablecoin, Klarna can enter new markets, broaden offerings and lower operating costs, Zach Abrams, co-founder and CEO of Bridge, said in a tweet. The race for fintech and crypto firms to launch stablecoins intensified after the U.S.’s passage of stablecoin law in July. Most of the new stablecoins are launched through partnerships with white-label issuers such as Bridge and Anchorage Digital, which share revenue generated from the stablecoins with their partners. Klarna’s partnership is another win for Bridge, which is already issuing stablecoins for crypto exchange Hyperliquid and crypto wallets Phantom and MetaMask. Klarna, Bridge and Stripe all counted Sequoia as their venture backer. Anchorage, a crypto custodian and another
popular issuer, won deals to issue Western Union’s stablecoin and Tether’s new U.S.-focused stablecoin.
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