Alphabet’s stock rose to a record high and moved the company closer to a $4 trillion valuation on Monday (Nov. 24).
The stock gained 5% and gave Alphabet a market capitalization of $3.82 trillion, Reuters reported Monday.
If the company reaches a $4 trillion valuation, it will become the fourth company to do so, after Nvidia, Microsoft and Apple, according to the report. Microsoft’s value has dropped below that mark, per the report.
Alphabet’s gains this year have been driven by it cloud business becoming a growth driver, Warren Buffett’s Berkshire Hathaway becoming an investor, and Alphabet’s Gemini 3 artificial intelligence (AI) model earning strong early reviews, the report said.
The company’s Google business is likely to continue performing well because of its strong cash flow, its in-house chips and its search business that is benefiting from the integration of AI, the report said, citing analysts.
Nvidia became the world’s first $4 trillion public company in July. The chip designer became “a clear early winner of artificial intelligence,” Art Hogan, chief market strategist at B Riley Wealth, said at the time.
Microsoft reached a $4 trillion market capitalization later in July after an earnings report showed that its bets on AI were paying off.
Apple achieved a $4 trillion market cap in October, driven in part by stronger-than-expected demand for the new iPhone 17 series as well as a reduction of tariff pressures.
Google introduced Gemini 3 on Nov. 18 and deployed the AI model directly into Google Search, the Gemini app and its enterprise cloud stack.
PYMNTS reported at the time that the company’s immediate deployment of Gemini 3 marked a strategic response to concerns that Google was moving too slowly on AI compared to rivals. By pushing its new AI model straight into Search, Google signaled that its flagship product will remain the center of its AI strategy.
Google CEO Sundar Pichai told BBC News on the same day, Nov. 18, that the AI boom contains both rational and irrational elements. Pichai compared AI’s current investment cycle with the one that happened in the early days of the internet. He said there was “clearly a lot of excess investment” at that time, but the internet was certainly “profound.”
Source: https://www.pymnts.com/