The main reason for this is the successful conclusion of the lawsuit filed against Google. In the United States, the Department of Justice had accused Google of creating a monopoly in the search engine market. The department proposed that certain parts of the company, such as the Chrome browser, be sold to weaken Google’s dominant position. Such a decision could have significantly weakened Google.
However, the court rejected these proposals and ruled that there was no need to break up Google. This news delighted investors, as it meant that Google would remain strong and intact. As a result, the company’s stock price rose sharply.
Google’s growth comes not only from its search engine but also from AI-powered cloud services. The company has made significant successful strides in this area as well.
Currently, Alphabet is the fourth company to join this $3 trillion club, after Nvidia, Microsoft, and Apple. Amazon could join them in the future, but for now, it remains slightly behind.
In short, the court’s decision brought significant relief to Google and boosted investors’ confidence in the company, which helped its valuation reach record levels.
