By Gokhan Ergocun
ISTANBUL (AA) - Alphabet, the parent company of Google and one of the leading US technology firms, saw its market value reach $4 trillion for the first time on Monday, driven by gains in its share price following positive developments in artificial intelligence.
Alphabet shares rose 1.6% to $334.44 after US markets opened, as of 1525 GMT, marking an all-time high and pushing the company’s market capitalization beyond the $4 trillion threshold.
With this milestone, Alphabet became the fourth company to exceed a $4 trillion valuation, joining Nvidia, Microsoft and Apple.
The surge in the company’s shares followed reports that Apple selected Google’s artificial intelligence model, Gemini, for integration into its virtual assistant Siri, reinforcing investor optimism about Alphabet’s position in the rapidly expanding AI market.
Despite the milestone, Alphabet currently ranks as the second most valuable company in the US by market capitalization at the prevailing share price, trailing only Nvidia.
Investors have increasingly focused on Alphabet’s artificial intelligence capabilities as competition intensifies among major technology firms to dominate next-generation AI-driven products and services.