Nvidia shares steady at $179 as reports suggest Meta may use Google chips

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Nvidia shares steady

Highlights

- Meta is in advanced talks to use Google’s TPUs, potentially reducing its reliance on Nvidia’s AI chips.

- The report highlights growing interest among tech giants in developing or adopting alternative AI hardware to reduce dependency on Nvidia.

- This development highlights growing competition in the AI chip market and could signal a long-term threat to Nvidia’s dominance.

From a technical perspective, Nvidia (NASDAQ: NVDA) is showing signs of short-term consolidation within a broader uptrend. The 50-day moving average has begun to flatten near the $180 level, while the 200-day moving average remains far below, at approximately $123, underlining the long-term bullish structure.

The stock faces initial support between $170 and $175, an area that has held up during recent pullbacks. This zone coincides with previous price pivots and has seen buying interest in the past. A break below this region could expose the stock to further downside, potentially toward the $150–155 area. On the upside, near-term resistance is evident around $190, followed by a psychological barrier at $200. A decisive close above $200 would likely invite momentum buyers and possibly spark a rally toward $220.

Nvidia stock price dynamics (September 2025 - November 2025). Source: TradingView

Volume patterns over the last few sessions show decreasing buying pressure, suggesting waning bullish conviction. Relative Strength Index (RSI) readings are neutral around 52, indicating that Nvidia is neither overbought nor oversold. The MACD has turned slightly bearish, with the signal line crossing above the MACD line—reinforcing the view that momentum is cooling. Overall, the technical picture supports a consolidation phase rather than an immediate breakout, though long-term indicators remain supportive of continued strength if fundamental catalysts return.

Google's TPU progress fuels competitive threat to Nvidia

Nvidia’s dominant grip on the AI accelerator market was shaken this week after a report revealed Meta Platforms is in advanced talks to deploy Google’s custom tensor processing units (TPUs) across its data centers. Meta may begin renting Google’s AI chips as early as 2026, with full-scale deployment planned for 2027. The potential deal would mark the most significant shift to date by a major hyperscaler away from Nvidia’s high-end GPUs — widely regarded as the AI industry’s gold standard.

The report comes on the heels of another major development: Google’s deal to supply up to 1 million TPUs to Anthropic, an OpenAI rival. That agreement was already seen as a pivotal endorsement of Google’s AI chip ecosystem. Seaport analyst Jay Goldberg called the Anthropic arrangement a “really powerful validation,” underscoring the increasing appeal of alternatives to Nvidia’s architecture. TPUs, specifically designed for AI workloads, offer tighter integration with Google Cloud and are now drawing interest not only from startups but also from cloud-heavy tech giants. If Meta proceeds with the TPU deployment, it will further legitimize Google's chips as a direct threat to Nvidia's core business model.

While Nvidia still holds a massive lead in performance, ecosystem support, and developer adoption, the latest moves from Meta and Google signal that cost and flexibility are starting to drive infrastructure decisions. For hyperscalers running multimillion-dollar AI workloads, reliance on a single vendor — especially one with tight supply chains — poses a long-term risk. Meta’s consideration of TPUs reflects a desire for diversification and strategic leverage, both in pricing and technology stack control. Although this shift won’t impact Nvidia’s top line immediately, it introduces a credible long-term risk to its growth trajectory. If other major players follow Meta’s lead, the AI chip landscape could move from a one-horse race to a more competitive multi-vendor environment by the end of the decade.

$200 in sight or $150 floor: Nvidia enters pivotal range

Nvidia’s stock is currently at an inflection point. The base-case scenario assumes moderate growth in AI infrastructure spending continues, Nvidia executes effectively on new product rollouts, and geopolitical risks remain manageable. Under this assumption, the stock could rebound toward the $200 level in the next 4–6 weeks. A successful breach of that resistance zone would open the path toward $220, with further upside to $230 if momentum accelerates into Q1 2026.

However, the risk-case scenario cannot be ignored. If macro headwinds worsen, or if hyperscalers shift more AI spending to in-house or competing solutions, Nvidia may lose its premium valuation edge. A break below $170 support would likely trigger a move down to $150, where stronger technical demand is expected. That level also coincides with a 23.6% Fibonacci retracement from the October 2022 low to the 2025 peak, reinforcing its technical importance.

The Trump administration is reportedly weighing whether to allow Nvidia to sell its H200 AI chips to China, signaling a possible shift in U.S. export policy. Although no decision has been finalized, the renewed discussions suggest selective semiconductor trade with China may still be on the table.

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