Alphabet Inc. (GOOGL) Crosses $3 Trillion In Market Cap For First Time

Alphabet Inc. (NASDAQ:GOOGL) is among the 15 Stocks ChatGPT Predicts Could Make You Wealthy in 5 Years. On September 12, the firm hit a market capitalization of $3 trillion for the first time, after a favorable antitrust ruling and renewed optimism around AI.

The company’s class A shares rose 4.49% on Monday to close at $251.61 per share, taking its year-to-date returns to 33%, making Alphabet Inc. (NASDAQ:GOOGL) the best performer among other leading tech giants and comfortably outpacing the S&P 500 index, which has gained 12.47% this year.

AI and tech stocks have rallied lately, powering Wall Street’s main indexes amid growing hopes of interest rate cuts by the U.S. Federal Reserve.

With this landmark, Alphabet Inc. (NASDAQ:GOOGL) has joined other giants such as Apple and Microsoft in reaching the $3 trillion valuation mark, while Nvidia sits at the top with a market cap of over $4.32 trillion.

Alphabet Inc. (NASDAQ:GOOGL) owns several notable platforms such as Google Search, Google Maps, Gmail, and YouTube. The company is also known for pioneering work and research in cloud computing, quantum computing, and artificial intelligence.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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