Nvidia Drops 0.2% to $208.19 on Tuesday Despite Apple GPU Deal Through Google Cloud

According to Barron's, Nvidia stock declined 0.2% to $208.19 on Tuesday (June 9), despite Apple announcing it will use Nvidia GPUs for part of its AI upgrades. However, Apple will not directly purchase chips from Nvidia; instead, it will access Nvidia hardware through Google Cloud's computing services, limiting near-term order volume for the chipmaker.

Apple will deploy only its most advanced AI model, AFM 3 Cloud Pro, on Nvidia chips hosted on Google Cloud to handle high-end workloads such as AI agents and complex reasoning. The majority of Apple Intelligence features will still run directly on Apple devices. Oppenheimer analyst Martin Yang noted that Apple is pursuing an asset-light AI strategy rather than building proprietary infrastructure like leading AI labs and hyperscalers.