Google’s parent company, Alphabet, made history on Monday by reaching a monumental $3 trillion market capitalization for the very first time. This incredible milestone reflects a surge of optimism surrounding artificial intelligence and a significant, favorable antitrust decision.
Both Class A and Class C shares of Alphabet experienced impressive gains, with Class A shares climbing 4.6% to $251.88 and Class C shares rising 4.5% to $252.3, both hitting new record highs. Alphabet now stands among an elite group of tech giants like Apple and Microsoft that have also achieved $3 trillion valuations, with AI leader Nvidia having already surpassed the $4 trillion mark.
A crucial factor contributing to this recent ascent was a U.S. federal judge’s ruling that allows Alphabet to maintain control over its widely used Chrome browser and Android mobile operating system. This decision marks a pivotal moment for the tech behemoth, whose dominant position in search and mobile ecosystems has long been a subject of intense scrutiny.
Investor confidence was further bolstered by the strong performance of Alphabet’s cloud-computing unit. The division reported an almost 32% increase in second-quarter revenue, exceeding expectations. This robust growth indicates that the company’s strategic investments in advanced in-house chips and its cutting-edge Gemini AI model are beginning to yield substantial returns.