Today's Edition
(Reuters)
Google parent Alphabet hit a market capitalisation of $3 trillion for the first time on Monday, riding on renewed optimism around artificial intelligence and a favourable antitrust ruling.
Class A shares of the company were up 3.6% at $249.1, while Class C shares climbed 3.4% to $249.5 - both trading at record highs.
Including Monday's moves, shares have rallied more than 32% so far this year, the best performer among the so-called "Magnificent 7" stocks and outpacing the 12.5% gain for the S&P 500. Alphabet joined other tech giants Apple and Microsoft in clinching a $3 trillion valuation, while AI chipmaker Nvidia, the world's most valuable company, boasts a market cap of $4.25 trillion.
