Google’s parent company, Alphabet, is part of the $2 trillion club.
ALAIN JOCARD/Getty Images
Alphabet, the parent company of Google, has reached a new milestone: its stock market value has recently reached a high.
The company had briefly reached this level before, but was never able to last a full day of trading.
However, it wasn’t an easy road for Alphabet to achieve success.
This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by a real editor.
Alphabet, the parent company of Google, reached a new milestone on Friday: its market capitalization – or its stock market value – is now $2 trillion (around 1.87 trillion euros).
In the ranking of the most valuable listed companies in the world, Google is now in fourth place, just behind Nvidia and Apple. Microsoft takes first place, with a market value of just over $3 trillion and was able to dethrone Apple.
However, this isn’t the first time Alphabet has hit the $2 trillion mark. In November 2021 and earlier this month, the company briefly broke the threshold – but this time the value held for at least one trading day, wie Bloomberg reported.
The news followed Alphabet’s first-quarter earnings report a day earlier. This proved that the income transmitted the analysts’ expectations. Alphabet CEO Sundar Pichar also highlighted the contribution of Google Cloud, which has been equipped with generative AI services through Google’s Gemini AI model.
“In the cloud, we have announced more than 1000 new products and features in the last 8 months. At Google Cloud Next, more than 300 customers and partners spoke about their successes with generative AI on Google Cloud, including global brands such as Bayer, Cintas, Mercedes Benz, Walmart and many more,” Pichai told investors during the call.
Pichai also said that Google is well positioned “for the next wave of AI innovation and the opportunities that lie ahead,” reminding investors that the company has been “AI-first” since 2016.
The company also pleased investors by announcing that it would expand its share buyback program by $70 billion (around €65 billion).
Despite last week’s success, Alphabet has endured difficult times over the past year. The company had to struggle with growing pains in its AI offerings and, among other things, had to stop its image generator after it received a lot of criticism for it.
Still, Alphabet is betting on AI as the key to company growth and is willing to spend big to compete. Earlier this month, the company announced the development of its own central processing unit called Axio to make it easier to train complex AI models.
Alphabet did not immediately respond to a request for comment from Business Insider.
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