Alphabet Inc (GOOG) traded higher, gaining 1.83% to $320.31, as the stock followed the broader market strength driven by optimism surrounding AI showcases at the annual CES conference.
- The upward movement was primarily attributed to strong sentiment surrounding AI developments showcased by peers like Amazon and Nvidia at the CES event, despite no major GOOG-specific news.
- GOOG outperformed the relatively flat S&P 500 (+0.09%) and tracked the strength of the Nasdaq Composite (+0.46%), benefiting from a broader tech optimism and chip rebound.