Alphabet's shares have reached all-time highs following the release of its upgraded Gemini 3 AI model, signaling strong investor confidence. The company's stock is nearing a $4 trillion valuation, with Morgan Stanley estimating significant chip potential. Meanwhile, Nvidia and Alphabet are competing for dominance in AI technology, with Alphabet's shares rising over 1% premarket and Nvidia experiencing a slight decline. Nvidia asserts its chips are a generation ahead of competitors, including Google. The broader stock market continued its recovery rally, with the Dow Jones rising over 660 points, driven by expectations of an interest rate cut by the Federal Reserve, which traders now price with an 84% probability. In geopolitical news, Ukraine is progressing toward a peace deal with Russia, with President Trump stating that negotiations are close to finalization and that he plans to meet with Zelenskyy and Putin when a deal is in its final stages. Meanwhile, hedge fund investor Michael Burry criticizes the AI investment bubble, citing concerns over industry costs, though Nvidia publicly defends its position. Additionally, U.S. home sellers are withdrawing listings at a record rate, and consumer confidence has fallen to its lowest since April, amid economic uncertainty and weak demand in the housing market.