Over the past year, tech valuations have reached all-time highs due to expectations surrounding artificial intelligence. Investors have been pouring money into companies near the action in the hopes of earning large returns, eager to ride the wave of digital innovation. Even Google’s CEO has warned about overvaluation, yet the market values of Silicon Valley’s leading companies continue to rise. Alphabet crossed the $4 trillion valuation threshold for the first time on Monday, joining industry titans Nvidia, Microsoft, and Apple. After chipmaker Nvidia, it is now the second most valuable firm in the world.
Alphabet’s stock has increased by around 75% over the last year and by almost 7% since the beginning of January, driven by several factors. A notable boost came from Apple’s decision to use Google’s Gemini AI model as part of an upgrade to its digital assistant Siri. The deal’s value, which was revealed on Monday, has not been made public. However, the announcement is essentially a vote of confidence in Google’s capacity to compete in the emerging field of artificial intelligence.
Google was alarmed by the initial success of OpenAI’s ChatGPT, so the company stepped up its innovation efforts and released its Gemini 3 model, which received overwhelmingly positive reviews.
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