The company's stock saw volatility after news that Meta is in talks to buy AI chips from Google starting in 2027, positioning Google as a direct challenger. Bernstein reaffirmed its Outperform rating with a $275 price target, responding to a company memo that addressed bearish concerns. While Google's TPU chips are seen as a potential rival, the company's software is acknowledged as keeping it on top for now. Concerns about a potential AI bubble and high-profile investors selling their stakes have also been noted.