Google hits $3T in market cap

A new feather is added to the $3 trillion market cap club. Google parent company, Alphabet, hit that mark on Monday after its shares jumped by over 4%. It now joins the ranks of Nvidia, Apple, and Microsoft.

It ended the day with a $3.05 trillion market capitalization.

Analysts observe that the tech giant’s stock surged in early September following a favorable antitrust ruling, where Judge Amit Mehta rejected the DOJ’s push to force Google to divest its Chrome web browser.

Alphabet shares are now up over 30% this year, compared to a 15% Nasdaq gain.

The milestone comes 20 years after Google’s IPO and just over 10 years since the creation of Alphabet. CEO Sundar Pichai, who took over in 2019, faces challenges from AI competition and regulatory scrutiny.