Alphabet market value reaches USD4T for first time
The company’s stock gained 1.6% to $334.44 shortly after US markets opened, hitting a record high by 1525 GMT and lifting Alphabet’s valuation beyond the $4 trillion level.
With this achievement, Alphabet became the fourth corporation to cross the $4 trillion threshold, joining Nvidia, Microsoft, and Apple.
The rally followed the announcement of a long-term artificial intelligence partnership between Apple and Google. Under the agreement, future versions of Apple Foundation Models will be built using Google’s Gemini AI technology and cloud infrastructure.
In a joint statement, the companies said: “These models will help power future Apple Intelligence features, including a more personalized Siri coming this year.”
Apple said that after “careful evaluation,” it determined that Google’s AI technology provides the “most capable foundation” for developing its next-generation models.
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