Nvidia, Microsoft and Apple have previously reached $4 trillion valuations. Currently, only Nvidia and Apple remain on the list.The increase reflects a notable turnaround in sentiment toward Alphabet after some investors feared the company had lost its AI lead to OpenAI after launching ChatGPT in 2022, even though it invented much of the underlying technology behind generative AI.
Alphabet has regained momentum this year by turning its once-active cloud business into a key growth engine, attracting Warren Buffett’s Berkshire Hathaway as an investor and winning good reviews for its new Gemini 3 model.
Google shares have also risen as Big Tech emerged largely unscathed in recent months from the bipartisan antitrust push that began during US President Donald Trump’s first term. The company avoided a forced sale of its Chrome browser after a court found its search business to be an illegal monopoly, but stopped short of ordering a breakup. dotcom boom of the 1990s.
A wave of circular deals involving OpenAI and Nvidia – two of the companies at the center of the AI boom – have also increased fears.
Still, analysts believe Google is well positioned in the AI race, thanks to strong cash flow, internal chips that serve as an alternative to Nvidia’s expensive processors and a sprawling Internet search business that already benefits from AI integration.
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