Google's AI Approach Stands Out

That's according to Mo Sparks, chief product officer at Direxion, who believes Google's ability to monetize AI across chips, cloud, models and search is giving the company unusual flexibility in the current market cycle.

In comments exclusive to Benzinga, Sparks said "Google is the one that has most effectively monetized AI thus far" among the hyperscalers.

TPU Momentum Expands AI Trade

Sparks also argued Alphabet's rapidly expanding TPU business signals the AI infrastructure trade is becoming broader than just Nvidia Corp (NASDAQ:NVDA).

"Alphabet's TPU momentum shows the expansion of the breadth of the AI infrastructure trade," he said, adding that growing demand for both GPUs and TPUs suggests the market opportunity may be larger than investors initially expected.

Still, Sparks did not frame Google's infrastructure push as outright bearish for Nvidia.

Instead, he called it "a bullish sign showing how wide this trade has started to reach."

Full-Stack AI Strategy Gains Attention

According to Sparks, Google's biggest advantage may be its ability to compete across multiple layers of AI simultaneously.

"Google is approaching AI holistically and, as a result, is monetizing AI more effectively," he said.

That flexibility, he argued, allows Google to stay "nimble with whatever is in demand at any given point in time" — something Sparks suggested other hyperscalers have not fully achieved yet.

For investors, the bigger takeaway may be that the AI race is increasingly becoming about who can monetize the full stack — not just who builds the best chips.

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