Alphabet reached a market value of $4 trillion (€3.4 trillion) on Monday. Google’s parent company surpassed Apple for the first time since 2019, making it the second-most-valuable company in the world. Only Nvidia is currently worth more.
Alphabet’s share price has risen by a further 6 percent this year, outperforming its rivals. Earlier in September 2025, Alphabet already reached the $3 trillion milestone, driven by optimism about its AI approach.
The cloud division proved to be a crucial driver. Google Cloud saw its revenue rise 34 percent in the third quarter, with a backlog of unrecognized contracts reaching $155 billion. The leasing of Google’s self-developed AI chips, previously reserved for internal use, significantly accelerated this growth.
Even competitor Meta is reportedly in talks to invest billions in Alphabet’s chips for its data centers starting in 2027, The Information reported. Google Cloud has gained a whopping 6.4 percentage points of market share since the beginning of 2022, growing from 19.1 to 25.5 percent in Q2 2025. That performance surpasses both AWS and Microsoft Azure in terms of growth rate.
Gemini gains ground
The new Gemini 3 model received strong reviews and increased pressure on OpenAI after GPT-5 disappointed some users. Meanwhile, the advertising arm, still the main source of revenue, remained stable despite economic uncertainty and fierce competition. Top investor Warren Buffett’s Berkshire Hathaway also made a rare tech investment in Alphabet, further fueling confidence in the company.
Alphabet is the fourth company to break the $4 trillion barrier, after Nvidia, Microsoft, and Apple. In September, a US judge decided not to break up the company and left control of the Chrome browser and Android operating system intact. That ruling gave the stock an extra boost.