S&P 500 Gains and Losses Today: Nvidia, AMD Slide After Report of Google AI Chip Deal; Best Buy Stock Jumps

• StockStory Top Pick NVDA +1.37% AMD +3.93% META -0.41%
• BBY +1.66% GOOG -1.04%

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Key Takeaways

• A report that a Big Tech giant is mulling using Google's AI chips pressured shares of several top chipmakers on Tuesday, Nov. 25, 2025, while an electronics retailer's stock got a boost from strong earnings.

• Shares of Nvidia and Advanced Micro Devices dropped following a report that Meta might use specialized AI chips from Google.

• Demand from consumers replacing older electronic devices helped Best Buy surpass quarterly earnings estimates, and its shares moved higher.

Several top AI chipmakers lost ground as a potential deal between two Big Tech giants underscored competitive pressures in the market. Meanwhile, shares of an electronics retailer moved higher after a strong quarterly report.

Major U.S. equities indexes rose for the third straight session as investors grew increasingly optimistic that the Federal Reserve could cut interest rates at its December meeting. The Dow rose 1.4%, the S&P 500 gained 0.9%, and the Nasdaq ended 0.7% higher. See here for more from Investopedia on Tuesday's market moves.

Keysight Technologies (KEYS) shares jumped 10% to log Tuesday's top performance in the S&P 500, after the provider of electronic test and measurement solutions topped quarterly earnings estimates. The company's sales outlook came in ahead of expectations, boosted by strong demand from AI data centers. Keysight also announced a new $1.5 billion share repurchase program.

Shares of companies exposed to the housing market extended their recent rise amid growing optimism about a cut in interest rates, which would lead to lower mortgage rates. Builders FirstSource (BLDR) stock surged close to 9% Tuesday, adding to solid gains posted by the residential construction materials supplier in the prior session.

Consumer electronics retailer Best Buy (BBY) reported better-than-expected same-store sales, revenue, and adjusted profit for the third quarter, and its shares powered over 5% higher. The company also raised its full-year outlook, pointing to consumer resilience as well as gains in the computer, tablet, and gaming categories as customers upgrade and replace older devices.

Shares of chipmaker Advanced Micro Devices (AMD) dropped about 4%, falling the most of any S&P 500 stock Tuesday, while Nvidia (NVDA) slipped nearly 3% following a report that Meta Platforms (META) is evaluating using AI chips from Google. Shares of Google parent Alphabet (GOOGL) climbed close to 2% to finish at a fresh high.

J.M. Smucker (SJM) stock lost 3.7% after the parent of its namesake fruit spreads, Jif peanut butter, and Folgers coffee released its fiscal second-quarter earnings report. Although sales for the period edged out forecasts and adjusted profit matched expectations, Smucker's full-year profit outlook disappointed. The company has raised its coffee prices as it navigates tariff pressures but said it would refrain from additional price hikes this winter after the U.S. excluded raw coffee from tariffs.

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