Google’s parent, Alphabet, reached a $3 trillion market valuation for the first time on Monday, entrenching its place in the ranks of the world’s most valuable companies and signaling the central role of artificial intelligence (AI) in propelling Big Tech’s dominance. In Google’s case, some legal clarity around its monopoly status also helped.
Alphabet’s shares surged by more than 4% during Monday trading, pushing the tech giant past the landmark $3 trillion cap. The rally comes after a decisive U.S. court ruling allowed Alphabet to retain control of key assets including its Chrome browser and Android operating system, two linchpins of its global enterprise that had been at risk due to regulatory challenges. This antitrust victory eliminated concerns over a potential breakup, boosting investor confidence at a pivotal time.
