Alphabet, Google's parent company, is now the world's second-most valuable public company, overtaking Apple. Its market capitalization climbed to approximately $3.89 trillion, marking the first time it has surpassed Apple since 2019.
The valuation surge stems from soaring investor confidence in its artificial intelligence initiatives. This confidence is attributed to the positive reception of the Gemini AI models and Alphabet’s strong positioning across the entire AI ecosystem.
This contrasts with Apple, which recently experienced a stock decline. Investors cite concerns regarding the pace of Apple's own AI rollout.
Analysts view this shift as significant, noting that AI has become a central factor in big tech valuations.