Alphabet Hits USD4 Trillion Valuation
Alphabet’s shares climbed 1.6% to $334.44 after US markets opened at 1525 GMT, reaching a record high and propelling the company’s valuation past the $4 trillion mark.
This milestone makes Alphabet the fourth corporation to surpass the $4 trillion threshold, joining Nvidia, Microsoft, and Apple.
The rally in Alphabet’s stock came after Apple and Google announced a long-term collaboration, under which the next generation of Apple Foundation Models will be developed using Google’s Gemini models and cloud infrastructure.
"These models will help power future Apple Intelligence features, including a more personalized Siri coming this year," the companies said in a joint statement.
Apple, headquartered in California, stated that after "careful evaluation," it concluded Google’s AI technology offers the "most capable foundation" for its models.
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