Alphabet (GOOG) shares surged more than 6% on Wednesday to hit a new all-time high, crossing the $300 mark for the first time. The significant stock jump was a direct market reaction to the highly anticipated launch of Google's latest and most advanced large language model, Gemini 3. The record trading volume underscored strong investor confidence following the announcement. The company announced that Gemini 3 delivers major advancements in reasoning, multimodal input understanding, and autonomous task execution. It features a massive one-million-token context window, enabling a much deeper and more accurate understanding of text, images, and video. The new model is being integrated across Google's core products, including Search and its Vertex AI platform. Analysts reacted positively to the news, with firms like Bank of America noting that the release helps close any perceived performance gap with AI competitors. The launch has cemented Alphabet's position as a leader in the ongoing AI race, contributing to its strong stock performance throughout 2025 and positioning it to potentially be the year's best performer among megacap tech stocks.