US EditionAlphabet becomes fourth company to reach $3 trillion market cap
Alphabet's stock climbed over 32% this year, driven by AI projects and a court ruling that reduced antitrust pressures, solidifying its place among the world's top valued firms.
- Alphabet became the fourth company to reach a $3 trillion market capitalization on Monday, joining Nvidia, Microsoft, and Apple.
- This milestone followed a favorable September court ruling where Judge Amit Mehta rejected the DOJ’s demand for Google to divest its Chrome browser, easing regulatory pressure.
- Investors reacted positively with shares rising over 4%, driven by optimism around Alphabet’s Gemini AI platform and a 32% increase in cloud revenue this summer.
- Shares peaked at $252.75 intraday on Monday after rising more than 30% this year, while Citi raised its price target from $225 to $280.
- Alphabet’s combination of favorable court decisions, advancements in artificial intelligence, and consistent financial performance indicates the company is expanding beyond its core search business, positioning it well to grow despite increasing competition in AI and ongoing regulatory scrutiny.
58 Articles
58 Articles
Google tops $3 trillion for the first time, joining select market-cap club with only 3 other members
Google’s parent, Alphabet, reached a $3 trillion market valuation for the first time on Monday, entrenching its place in the ranks of the world’s most valuable companies and signaling the central role of artificial intelligence (AI) in propelling Big Tech’s dominance. In Google’s case, some legal clarity around its monopoly status also helped. Alphabet’s shares surged by more than 4% during Monday trading, pushing the tech giant past the landmar…
Google parent company Alphabet surged 4.5 percent, joining the exclusive club of companies with a market capitalization exceeding $3 trillion. Wall Street closed higher, with tech stocks particularly strong. In Amsterdam, the AEX joined in: the main index rose sharply, led by ASML, ASMI, and Besi, which gained up to 6 percent.
Alphabet is thus the fourth most valuable company in the US stock market, according to Apple, Microsoft and the chip group Nvidia
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