Google closes in on Nvidia in the AI race
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 26 November 2025
⏱️ 11 minutes
🧾️ Download transcript
Summary
Google’s parent company got close to a record $4tn market capitalisation, and more than $1tn has been wiped from the cryptocurrency market in the past six weeks. Plus, US consumers aren’t feeling too merry ahead of the holidays, and the UK prepares for its long-awaited Budget day.
Mentioned in this podcast:
US retail sales growth slows as affordability crunch weighs on households
Crypto market sheds $1.2tn as traders shun speculative assets
Nvidia shares tumble on signs Google gaining upper hand in AI
The four audiences Reeves’ ‘high-wire’ Budget must satisfy
Email Marc with your holiday stories and questions: [email protected]
Note: The FT does not use generative AI to voice its podcasts
Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:04.0 | Today is Wednesday, November 26th, and this is your FT News briefing. |
| 0:08.6 | Invidia may no longer be the bell of the AI ball, and U.S. economic data is telling us that |
| 0:14.5 | retailers aren't feeling the holiday spirit. |
| 0:17.6 | Plus, what is the opposite of to the moon? |
| 0:19.6 | Because whatever it is, that's what crypto is doing right now. |
| 0:22.7 | Companies and executives have been like, if we're holding lots of crypto, our share price will go up. |
| 0:26.9 | But now the trend is really rapidly unraveling. |
| 0:31.0 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:41.9 | Okay. your day. Google's parent company almost reached a $4 trillion market capitalization yesterday. |
| 0:47.7 | That would be a new record. |
| 0:50.1 | Alphabet has had a crazy run since early September after an antitrust judge ruled in its favor. |
| 0:56.8 | And the company's artificial intelligence offerings have become a shining star in the sector. |
| 1:01.5 | Google's AI is doing so well, investors got nervous it could overtake NVIDIA. |
| 1:06.7 | That sent the chipmaker's shares lower on Tuesday. |
| 1:10.0 | Here to unpack all this is the FTs John Foley. |
| 1:12.7 | He heads up our Lex column. |
| 1:14.2 | Hi, John. |
| 1:15.1 | Hi there. |
| 1:16.4 | All right, let's start with this big honking $4 trillion number. |
| 1:20.5 | What would that mean for Alphabet if its market capitalization reach that point? |
| 1:25.6 | Well, you know, the number itself is kind of meaningless. |
... |
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