"In a milestone that underscores the enduring power of Big Tech, Alphabet ( NASDAQ:GOOG )( NASDAQ:GOOGL ) crossed the $3 trillion valuation threshold for the first time on Monday. The stock surged 4.5% to close above $251 per share, pushing its market capitalization to over $3 trillion. This places Alphabet in an even more elite group of stocks - Apple ( NASDAQ:AAPL ), Microsoft ( NASDAQ:MSFT ), and Nvidia ( NASDAQ:NVDA ) - that are all valued above $3 trillion."
"Citi's upgrade isn't just about regulatory tailwinds - it's deeply rooted in Alphabet's potential to weave its Gemini AI model across its vast product ecosystem. Analysts envision Gemini powering enhancements in Search, YouTube, Gmail, Google Maps, Android, Chrome, and even Duet AI for enterprises. This integration could boost user engagement and ad revenues by delivering more personalized, efficient experiences."
Alphabet's market capitalization exceeded $3 trillion after a 4.5% stock surge that pushed its share price above $251. The company committed $6.8 billion over two years to U.K. artificial intelligence infrastructure and scientific research, including an expanded Waltham Cross data center and support for the London-based DeepMind lab. Citigroup raised its price target to $280 from $225, citing greater regulatory clarity and faster product rollouts. Analysts foresee the Gemini AI model being integrated across Search, YouTube, Gmail, Maps, Android, Chrome, and enterprise tools, potentially increasing user engagement and advertising revenue and accelerating growth.
Read at 24/7 Wall St.
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