Alphabet's, Google's parent company, stocks have reached a new all-time high, propelling the company to become the fourth company in the world to reach a three trillion dollar market capitalization.
The tech company's shares surged by 3.3% to $249.47 in a new session on the rise, following a trend since August 3 when it secured a victory in a monopoly trial in the United States. The trial had raised the possibility of the company having to sell Chrome, its search engine, to a third party.
The favorable ruling boosted the shares by over 9% as the risk of the group being broken up faded. Since then, it has seen a cumulative increase of another 7.78%, also driven by positive expectations for the evolution of artificial intelligence. These expectations have also recently boosted Oracle, thanks to the signing of numerous contracts to host artificial intelligence computing capacity, as well as the favorable regulatory climate in the United States, making it unlikely for the company to face a similar lawsuit in the coming years.
Additionally, Gemini, Google's ChatGPT competitor, is experiencing increased downloads and visits, along with the renewed levels of search engine usage since the introduction of artificial intelligence.