Alphabet shares rose 1% to a record $331.86 and have gained 65% over the past year
Google parent Alphabet crossed $4 trillion in market valuation yesterday, becoming the latest tech firm to achieve the feat amid investor enthusiasm for its AI advances.
Shares climbed 1% to a record $331.86 and are up about 65% over the past year, as it continues to remain competitive in artificial intelligence technology.
AI drives investor optimism
Much of the momentum comes from Google’s latest Gemini 3 artificial intelligence model, which it released in December. But that’s not its only AI-related achievement. Google entered into direct competition with Nvidia in November when it showcased its AI chip.
The tech giant also reported stellar revenue from its cloud businesses last year.
Alphabet’s valuation comes on the heels of a multi-year partnership announcement between Google and Apple, according to which it will power the iPhone-maker’s AI upgrades and a major Siri update expected later this year.
At present, Nvidia remains the only company trading clearly above the $4 trillion mark, while Apple and Microsoft crossed the milestone last year, but currently hover slightly below it.a