On July 20, Alphabet rose 3.03% in regular trading, trading at $358.0/share, with turnover of $676 million. The stock rebounded strongly from prior weakness driven by concerns over its AI competitiveness.

On the news front, reports revealed that Google is developing a new server chip called Frozen V2 that can directly integrate its Gemini AI models. Sources indicate the chip could be 6 to 10 times more efficient than the latest version of Google's existing homegrown AI chips, with planned deployment as early as 2028. Google intends to use the chip to address shortages in AI computing capacity and improve AI service efficiency.

The news effectively repaired market sentiment after Alphabet fell over 4% on July 17 when reports emerged that its flagship Gemini 3.5 Pro model launch had been delayed by several months due to underperforming coding capabilities. With Q2 earnings scheduled for July 22, where analysts expect revenue of approximately $116.8 billion, the chip development progress reinforces Google's long-term AI infrastructure commitment ahead of the report.

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