$GOOG vs $NVDA The “Two Kingdoms” of AI Infrastructure
EXECUTIVE BRIEFING: To: Global Markets Navigator Subscribers (Full Report to Paid Subscribers)
From: Bill Cara
Report Date: November 25, 2025
Subject: Capital Allocation Strategy for the Google vs. Nvidia Split
1. The Core Thesis: A Bifurcated Market
The AI compute market is no longer a monolith. It has split into two distinct ecosystems (”Kingdoms”), each with its own supply chain, economic model, and investment vehicle.
Kingdom A: The Nvidia Ecosyst…
