Google closes in on Nvidia in the AI race

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 householdsCrypto market sheds $1.2tn as traders shun speculative assetsNvidia shares tumble on signs Google gaining upper hand in AIThe four audiences Reeves’ ‘high-wire’ Budget must satisfyEmail 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 Hosted on Acast. See acast.com/privacy for more information.