Alphabet, the Google parent company, has joined the Club de Los Ricos of a market capitalization value of 3 billion dollars.
The shares of the searches giant retreated 0.20% and were sold at a price 251.11 dollars per unit on Tuesday. But on Monday, their papals rebounded 4.49% pushing the company to a territory occupied only by Nvidia, Microsoft and Apple.
In the year, Alphabet’s papers climb 32.65%, compared to the 15.66% increase in Nasdaq.
The titles were strongly driven in early September by an antimonopoly judgment of a judge, whose sanctions were milder than the shareholders feared.
The United States Department of Justice wanted to force Google to sell its Chrome browser, and last year a district court ruled that the company had an illegal monopoly in searches and related advertising.
“Alphabet, the company’s matrix for the first time exceeded a stock market valuation of 3 billion dollars, driven by a favorable resolution in its antimonopoly judgment, in which a federal judge determined that it should not get rid of the Chrome browser,” said GBM Research analysts.
They wrote that the news increased the confidence of technology investors, which gains land in artificial intelligence with their Gemini models and the integration of artificial intelligence (AI) in their cloud business.
The confidence of the shareholders was promoted after the company’s cloud computing unit recorded an increase of almost 32% in the income of the second quarter, exceeding expectations as investments in own chips and the Gemini artificial intelligence model begin to bear fruit.
The company closed on Tuesday with a market capitalization of 3,039 billion dollars. The technology belongs to the group of the Magnificent seven, which total 20,418 billion dollars in capitalization value.
Nvidia, the main chips developer for AI, is the most valuable firm, with 4,257 billion dollars. Their shares rise 30.23% so far this year. Microsoft, the software developer, is the second, to value 3,783 billion dollars, followed by the iPhone manufacturer, Apple, with 3,534 billion dollars in stock capitalization. Their shares fall 4.90% so far this year.
