Everyone’s watching Nvidia (NVDA) like it’s the only AI chip game in town. But while the crowd’s cheering for the obvious winner, Google (GOOGL) is pulling a classic stealth move.

Here’s what most people are missing: Google’s Tensor Processing Units (TPUs) — its in-house AI chips — are quietly becoming a real threat to Nvidia’s monopoly  on AI infrastructure.

Until now, Google only used these chips in its own data centers. But this week, news dropped that they’re pitching TPUs to other cloud providers — the kind that don’t want to (or can’t afford to) rely on Nvidia. That’s a huge shift.

Bank of America says Google could massively scale TPU production in 2025. DA Davidson took it a step further: if Google spun off its chip business, it could be worth $900 BILLION. That’s not a typo. That’s nearly a trillion-dollar side hustle hiding inside Alphabet.

Here’s why this matters for investors and operators:

Nvidia builds general-purpose GPUs — powerful, yes, but not tailor-made for AI. Google’s TPUs are built for AI workloads. Faster, cheaper, more efficient. And if Google starts selling them like AWS sells computers? Game on.

Your takeaway: The “next Nvidia” might already exist — inside Google.

If you’re an investor, watch for any moves to spin off this division. If you’re a founder or builder, know this: competition in AI chips is heating up, and that means opportunity. New platforms. Better margins. Lower barriers to entry.

Don’t just watch the headlines. Follow the money.