Market News / Story
Alphabet Stocks Drop Although TPU Sales Escape Google's Cloud
GuruFocus ·
GuruFocus reports: Alphabet , the search, cloud and AI-infrastructure company, received a Wells Fargo price-target increase to $417 from $411 as the bank raised expectations for external TPU sales. Shares stood at $342.15 at 10.20 EST in the October 7, down approximately 0.7%. The target nudged higher. The bigger story is Google's push to turn its custom AI chips into a business beyond its own cloud. Wells Fargo projected external TPU sales of $9.2 billion in the third quarter and $11.5…