Mountain view: Google parent Alphabet hit a market capitalization of $3 trillion for the first time on Monday, riding on renewed optimism around artificial intelligence and a favorable antitrust ruling.
According to Radio Television Brunei, Class A shares of the company were up 3.8% at $250, while Class C shares climbed 3.7% to $250.4, with both trading at record highs. This surge in share prices reflects the increasing confidence in Alphabet’s strategic positioning within the tech industry.
Including Monday’s gains, the company’s shares have rallied more than 32% so far this year. Alphabet’s performance has been the best among the so-called “Magnificent 7” stocks, significantly outpacing the 12.5% gain for the S and P 500. This impressive growth underscores the market’s positive response to the company’s advancements in artificial intelligence and recent legal victories.