Alphabet, OpenAI, and NVIDIA. What were the biggest AI deals in 2025?

In 2025, investments in artificial intelligence entered a more complex phase: after several years of rapid growth, the market became more selective and investors more cautious. Despite this, US stock indices set new records: the S&P 500 rose by more than 17% and the Nasdaq by 22% since the beginning of the year.

This was reported by CNBC.

In the second half of the year, a clear division emerged in the market: amid fears of overvaluation, macroeconomic pressure, and a possible “AI bubble,” trading became more volatile.

Among the “big seven” tech giants, Alphabet and Nvidia performed best, while Amazon and Apple lagged behind.

Google

At the beginning of the year, Alphabet was considered an outsider in the field of artificial intelligence, but the launch of the Gemini 3 and Nano Banana Pro models radically changed the situation.

The number of AI Overviews users on Google Search has grown to 2 billion per month. Alphabet’s shares rose 66% and became the most successful.

As a result, in December 2025, OpenAI CEO Sam Altman declared a “code red” at the company to accelerate the improvement of ChatGPT and temporarily postponed the development of other products.

At the time, the Wall Street Journal reported that Google remained the main challenge for OpenAI.

This also had a positive impact on its partners, particularly Broadcom, while companies associated with OpenAI — Nvidia and Microsoft — performed weaker than expected.

Infrastructure for AI

As journalists note, the biggest surprises came not from software companies, but from hardware manufacturers. Shares of hard drive manufacturer Western Digital rose more than 290%, Micron Technology — 228%, and Seagate — 227%. 

The reason is the boom in the construction of data centers for AI and the growing demand for memory and data storage systems.

In early November 2025, OpenAI and Amazon Web Services (AWS) signed a multi-year agreement that will allow OpenAI to launch and scale its AI systems on AWS infrastructure. The collaboration will last at least seven years.

At the same time, OpenAI’s partners, including SoftBank, Oracle, CoreWeave, and others, have already raised nearly $100 billion in loans to finance the expansion of OpenAI’s infrastructure.

Analysts predict that the market for high-speed memory for AI could reach $100 billion by 2028.

AI enters shopping, taxis, and space

In 2025, investors began to see real-world applications for AI. Major retailers and delivery services — Amazon, Walmart, DoorDash, Instacart — are actively integrating AI agents into shopping. DoorDash, which integrated with ChatGPT, added about 40% to its share price.

A separate trend is “physical AI”: robot taxis, humanoid robots, and autonomous systems. Alphabet’s Waymo is expanding robotaxis in the US, Tesla is ramping up its ambitions in robotics, and Uber and Lyft are preparing to test driverless taxis in the UK.

In November 2025, the Estonian company Bolt signed an agreement with the Chinese company Pony.ai to launch autonomous robotaxis in Europe. 

In addition to these companies, at the end of October 2025, NVIDIA also announced a partnership with Uber to create the world’s largest network of Level 4 autonomous vehicles, known as robotaxis. The first NVIDIA-based Uber vehicles are expected to hit the roads as early as 2027. 

Another area is space. OpenAI’s interest in space infrastructure has driven up the shares of EchoStar, AST SpaceMobile, Planet Labs, and Rocket Lab, some of which have gained more than 300% over the year.

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