AMD, Nvidia among market cap stock movers on Tuesday

Investing.com – Turkey stocks were lower after the close on Tuesday, as losses in the Textile & Leather, Wood, Paper & Printing and Information Technology sectors led shares lower.

At the close in Istanbul, the BIST 100 lost 0.28%.

The best performers of the session on the BIST 100 were Cem Zeytin AS (IS:CEMZY), which rose 9.98% or 4.18 points to trade at 46.08 at the close. Meanwhile, Celik Halat ve Tel Sanayi AS (IS:CELHA) added 9.97% or 0.86 points to end at 9.49 and Birikim Varlik Yonetim AS (IS:BRKVY) was up 9.95% or 8.10 points to 89.50 in late trade.

The worst performers of the session were Frigo-Pak Gida Maddeleri Sanayi ve Ticaret AS (IS:FRIGO), which fell 9.99% or 1.35 points to trade at 12.16 at the close. EIS Eczacibasi Ilac Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS (IS:ECILC) declined 9.97% or 10.40 points to end at 93.90 and Derluks Yatirim Holding AS (IS:DERHL) was down 9.95% or 1.53 points to 13.84.

Falling stocks outnumbered advancing ones on the Istanbul Stock Exchange by 466 to 127 and 7 ended unchanged.

Gold Futures for February delivery was down 0.20% or 8.45 to $4,161.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 2.80% or 1.65 to hit $57.27 a barrel, while the February Brent oil contract fell 2.47% or 1.55 to trade at $61.17 a barrel.

USD/TRY was up 0.04% to 42.43, while EUR/TRY rose 0.59% to 49.20.

The US Dollar Index Futures was down 0.39% at 99.68.

Investing.com -- Meta Platforms (NASDAQ:META) is evaluating whether to use Google-designed chips in its data centers, a move that could reshape the competitive landscape in AI hardware, according to The Information.

The report said Meta is considering deploying Google’s tensor processing units, or TPUs, in its facilities starting in 2027, and may also rent TPUs through Google Cloud as early as next year.

In response to this news, NVIDIA (NASDAQ:NVDA) shares fell 6.8% in U.S. trade. Advanced Micro Devices (NASDAQ:AMD) shares lost as much as 9%.

"The news feels incrementally negative to the AMD narrative as the company has built their story around becoming the viable second source to NVDA, and hitched their wagon to OpenAI’s horse," Bernstein analyst Stacy Rasgon.

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On the other hand, Google-owner Alphabet (NASDAQ:GOOGL) stock rose 2.7%, on track to hit the $4 trillion valuation target.

Google introduced its first TPU in 2018 for internal cloud workloads and has since rolled out several newer generations tailored for artificial intelligence.

The chips are customized to handle the compute-heavy demands of modern AI models, and experts say this specialization gives Google an efficiency edge over rivals.

A deal with Meta would mark a significant endorsement of Google’s technology and a rare instance of a major AI platform leaning on an external chip supplier outside of Nvidia.

Broadcom shares also moved higher on the report, reflecting its exposure to the broader AI infrastructure build-out. Broadcom (NASDAQ:AVGO) rose 11.1% yesterday.

"AVGO would be a clear winner here as they are (of course) Google’s ASIC partner of choice, though we note they have also been working with Meta on their own ASICs," Rasgon added.

Investing.com -- Lixte Biotechnology Holdings Inc. (NASDAQ:LIXT) stock fell 11.5% Tuesday after the company announced it has completed the acquisition of Liora Technologies Europe Ltd., a UK-based company specializing in electronically controlled proton therapy systems for cancer treatment.

The acquisition includes Liora’s proprietary LiGHT System (Linac for Image Guided Hadron Therapy), which is installed at the Daresbury Laboratory of the UK’s Science and Technology Facilities Council (STFC). According to the company, over $300 million has been invested to date in developing the technology.

Liora will become a wholly owned subsidiary of LIXTE, with the company stating that the acquisition represents its entry into the radiotherapy segment of cancer care.

"The acquisition of Liora represents our entry in the radiotherapy segment of cancer care and marks a significant step in LIXTE’s corporate growth and development as we aim to fulfill our mission of treating cancer with cutting-edge technologies," said Geordan Pursglove, CEO of LIXTE.

The company indicated that it plans to bring the LiGHT system to market and eventually pursue a recurring revenue model through jointly operated treatment centers. LIXTE views the acquisition as complementary to its pharmaceutical business and ongoing clinical trials with its LB-100 compound for Ovarian Clear Cell Carcinoma and Metastatic Colon Cancer.

Despite management’s optimism about the technology’s potential, investors responded negatively to the announcement, sending shares lower in Tuesday’s trading session.

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Investing.com -- AMD (NASDAQ:AMD) shares plunged 9% by mid-morning Tuesday while Nvidia (NASDAQ:NVDA) fell 6.5% following reports that Meta Platforms (NASDAQ:META) is considering a multi-billion dollar investment in Google’s AI chips, potentially disrupting the GPU market dominance.

According to The Information, Google (NASDAQ:GOOGL) has started pitching its Tensor Processing Units (TPUs) to major customers including Meta and financial institutions. Meta, currently a significant Nvidia GPU customer, is reportedly exploring investing billions in Google’s TPUs for implementation in its data centers by 2027, while potentially renting Google chips from Google Cloud as early as next year.

Google shares rose 3% in response to the news, while Broadcom (NASDAQ:AVGO), Google’s TPU manufacturing partner, traded flat after initial pre-market gains.

The potential shift in Meta’s hardware strategy sent shockwaves through the semiconductor sector. SoftBank Group shares dropped 10% amid concerns that Google’s Gemini AI model could increase competition for OpenAI, a key SoftBank investment. Both Nvidia and AMD have existing partnerships with OpenAI.

Bernstein analyst Stacy Rasgon noted the news appears "incrementally negative to the AMD narrative" as the company has built its strategy around becoming "the viable second source to NVDA, and hitched their wagon to OpenAI’s horse."

Rasgon questioned whether investors would remain enthusiastic about AMD’s targets through 2030 if "Gemini hypothetically dominates over ChatGPT, and TPUs prove to be viable second sources for a broader swath of AI customers."

The analyst recommended owning both Nvidia and Broadcom, stating that while "AVGO has the narrative at the moment," Nvidia’s valuation "is looking increasingly attractive and the sell-offs seem overdone." Rasgon indicated he would be a buyer of both stocks.

The market reaction underscores intensifying competition in the AI chip space, where Nvidia has maintained leadership but now faces challenges from both traditional competitors and new entrants developing specialized AI processing hardware.