Google’s parent Alphabet hits $3 trillion market cap amid Big Tech’s AI momentum in the US market
(Reuters) – The Google Parental Alphabet reached a market value of $ 3 trillion for the first time on Monday and took a renewed optimism and a positive antitröst decision around artificial intelligence.
The company’s A -class shares increased by 3.8% from $ 250, while Class C stock increased by 3.7% to $ 250.4 – both of them were traded at record levels.
The company’s shares have been gathered more than 32% this year, including the earnings of Monday, the best performance among the so -called “magnificent 7” stocks and 12.5% for S&P 500. When the alphabet hit the world’s most valuating of other technology giants Apple and Microsoft, AI Concaker hit the most valuating and hit Ai Chipmaker’s most valuating. 4.25 trillion dollars.
Technology and AI -connected stocks have recently strengthened Wall Street’s main indices to record the highest records, hoping that the US federal reserve would reduce interest rates later this week.
Oracle’s last week was the last allocation to fires an explosion estimated AI trade.
Kim Forrest, the chief investment manager of Bokeh Capital Partners, said that technology stocks are the leaders of the last rally and that he has not been such an excitement from investors in the last 18 months, and perhaps even for two years. “
The sub -sector of communication services that contain alphabets has spread more than 26% this year so far, which has become the best performance sector between information technology and 11 main lower cows.
At the beginning of this month, the sense of investor marked a very important moment for the company, which has been examined for a long time, after allowing a US court to control the alphabet’s chrome browser and Android mobile operating system.
Sharing the data as part of the decision, while strengthening Google’s advertising business competitors, not having to dispose of Chromium or Android, eliminating a great concern for investors who see them as key parts to Google’s overall business.
In July, the company’s cloud information unit provided an almost 32% leap in the second quarter income and exceeded expectations when investments in internal chips and Gemini AI model.
“They are still very addicted to searching, but with Youtube, Waymo and other capabilities and products they work on, investors are starting to see the possibility that this is not just a search company, which turns into many other things.” He said.
According to the data compiled by LSEG, the alphabet is trading about 23 times their advanced earnings – the lowest of the “magnificent 7” to the lowest five -year average of 22.
(Reporting by Shashwat Chauhan and Johann M Cherian in Bengaluru: Additional Reporting by Purvi Agarwal; Tasim Zahid and Srij Kalluvila)
