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Fortune
Fortune
Nick Lichtenberg

Markets wipe $250 billion off Nvidia as they digest Google's revenge, with Gemini 3 emerging as 'current state-of-the-art'

(Credit: Jeenah Moon/Bloomberg via Getty Images)

Google’s launch of Gemini 3 is rewriting the map of artificial intelligence—if a few billionaire fans and billions of dollars in market reaction are any indicator. As much as $250 billion was wiped off Nvidia’s market cap in Tuesday morning trading as markets digested the reality that maybe the search empire is striking back in the race to win the AI space.

Billionaires Marc Benioff and Mark Cuban offered contrasting opinions that put in perspective what a pivotal moment this Thanksgiving could be in the AI race.​ Benioff, the Salesforce founder and CEO who is close to the center of the evolving AI story, posted on X.com that he’s been using ChatGPT every day for the last three years but he’s “not going back” after trying out Gemini 3. “The leap is insane,” he wrote, adding that “it feels like the world just changed, again.”

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