Alphabet reaches $3 trillion market capitalization for the first time

Driven by a positive antitrust verdict and increased excitement about artificial intelligence, multinational technology corporation Alphabet, the parent company of Google, hit a $3 trillion market valuation for the first time on Monday.

At all-time highs, the company’s Class A shares increased 4% to $251.88, while its Class C shares increased 4.5% to $252.30.

Alphabet joined businesses that have also achieved $3 trillion valuations, including as Microsoft and Apple, the manufacturer of the iPhone. The artificial intelligence industry leader, Nvidia, has achieved the $4 trillion milestone.

An important development for the tech giant, whose dominance in the search and mobile ecosystems has long been questioned, was the recent decision by a US federal judge to allow Google’s parent company to keep control of its Chrome browser and Android mobile operating system.

As investments in proprietary processors and the Gemini artificial intelligence model started to pay off, the company’s cloud computing division reported a roughly 32% growth in second-quarter sales, beating expectations and boosting investor confidence.