The value of Alphabet’s TPUs was corroborated by the launch of the company’s latest Gemini AI model, which received glowing reviews and is optimized to run on the chips. Photo by HANDOUT/GOOGLE/AFP via Getty Images/Postmedia files

Alphabet Inc. investors are growing increasingly confident that the company’s semiconductors could represent a significant driver of future revenue for Google’s parent .

The success of Alphabet’s tensor processing unit, or TPU, chips is a primary reason for the stock’s 31 per cent fourth-quarter rally, which is the tenth best performance in the S&P 500 Index. The TPUs were always seen as a major strength internally, accelerating growth for the company’s cloud-computing business. But there’s rising optimism that Alphabet could start selling the chips to

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