# Why Can These Two Stocks Remain Stable Amid Concerns About AI Bubble?

**SoundHound AI** surged 835% last year, but has dropped 43% this year, leading people to start doubting whether the AI bubble is about to burst. However, not all AI stocks are so inflated.

**Nvidia** is very hard to crash. Why? Simply put—training and running AI models cannot move without its GPUs. Now, 90% of the data center chip market has been taken by Nvidia. In the third quarter, the data center revenue was $51.12 billion, while its competitor AMD only made $4.3 billion, and AMD's growth rate is 22%, whereas Nvidia's growth rate is 66%. The gap is enormous. The CEO also stated that they aim for a revenue guidance of $51.65 billion, a year-on-year increase of 65%. This is not a bubble that can be blown away.

The story of **Alphabet** is even more interesting. Chrome has a 73% market share, Google Search has a 90% market share, and with the support of YouTube, its advertising business generates $74.18 billion every quarter (up 12.6% year-on-year). Now it uses AI to generate ad copy and target precisely, and also uses Gemini to benchmark against ChatGPT. The key point is that Google Cloud is also gaining momentum—growing at 33.5% in the third quarter, reaching $15.15 billion. Although its share is small, the growth is rapid.

Both stocks have performed well this year (Nvidia up 30%, Alphabet up 58%), and even if the AI bubble truly bursts, their moats are deep enough. One monopolizes chip supply, and the other monopolizes advertising search, which are not easy to break.