Google breaks market capitalization record

Google’s parent company, Alphabet, recently crossed a significant milestone in its history. The company’s market capitalization reached $3 trillion for the first time. This surge was driven by growing interest in artificial intelligence and an antitrust ruling in the company’s favor. With this development, Alphabet became the fourth member of the $3 trillion market capitalization club.

Google Reaches $3 Trillion Valuation

Only Nvidia, Microsoft, and Apple have previously reached this level. At the time of writing, Alphabet’s market capitalization stood at $3.04 trillion. This figure was reached nearly 20 years after Google’s IPO and 10 years after Alphabet’s founding as a holding company.

The biggest factor in Alphabet’s rise was the antitrust ruling announced in early September. The US Department of Justice had previously forced Google to sell its Chrome browser. Last year, a court found that the company had established an illegal monopoly in search and related advertising. However, the court did not accept the requirement for the company to be split and sold.

With Monday’s surge, Alphabet shares have gained more than 32 percent this year. This performance stands out as the largest gain among the tech giants known as the “Magnificent 7.” It surpassed the 12.5 percent gain of the S&P 500 index. However, of the quartet of Nvidia, Microsoft, Apple, and Alphabet, only Apple’s shares have lost value since the beginning of the year.

Currently, the top five companies by market capitalization are: Nvidia $4.32 trillion, Microsoft $3.83 trillion, Apple $3.51 trillion, Alphabet (Google) $3.04 trillion, and Amazon $2.47 trillion.