Alphabet joins the '$3 trillion club'

Despite long-running legal challenges, Google's parent company has just made its name among the world's largest technology corporations when its market capitalization surpassed the $3 trillion mark for the first time.

Alphabet CEO Sundar Pichai speaks at an annual conference in California in May - Photo: AFP

September 15 marked an important turning point in Alphabet's development journey when its stock price jumped 4%, bringing its market capitalization to 3.05 trillion USD.

The tech giant is showing impressive resilience, opening new growth doors in the midst of a volatile AI era.

Historical milestone

According to statistics from Reuters, since the beginning of 2025, Alphabet's stock has increased by more than 32%, leading the Magnificent 7 group - the seven largest and most influential technology companies in the world , even surpassing the 12.5% ​​increase of the S&P 500 index.

With this achievement, Alphabet became the fourth company in history to reach the $3,000 billion milestone, after the "giants" Nvidia, Microsoft and Apple - proving the increasingly solid position of the American technology company on the global economic map.

According to analysts, no longer simply a "search giant", Alphabet is repositioning itself as a multi-industry technology company, taking artificial intelligence (AI) and cloud computing as strategic pillars.

The main lever for this leap is the huge investment in AI, notably the Gemini ecosystem - a multi-purpose AI platform serving Google's core operations from search, advertising, cloud computing, YouTube to Google Workspace.

In addition, Alphabet also made a strong impression with specialized AI chips, short video platform YouTube Shorts, computing services Google Cloud, and office application ecosystem Workspace. All contributed to diversifying revenue sources, reducing dependence on traditional advertising.

"Alphabet is transforming into a comprehensive technology corporation, no longer just a search engine as before," - the Wall Street Journal quoted Mr. Dennis Dick, strategist at Stock Trader Network.

Weathering the legal storm

Caught at the center of an antitrust lawsuit filed in September 2023, Alphabet has been going through one of the most tense legal periods in its history.

In August 2024, Judge Amit P. Mehta of the Federal Court in Washington ruled that Google had engaged in illegal acts to maintain its monopoly and suppress competition.

The US Justice Department then proposed to break up Google, forcing the company to divest from the Chrome browser. Immediately, Alphabet's stock plummeted nearly 5%.

"This is a critical time to exercise control over big tech companies," warned Rebecca Haw Allensworth, professor of antitrust law at Vanderbilt University Law School.

However, in early September 2025, the situation reversed. The new ruling declared that Google was not required to split Chrome or Android and that the company could continue to pay partners to install its products by default, as long as it was not tied to an exclusive contract.

The victory has allayed fears of a disruptive split, helped Alphabet’s stock rebound and bolstered its long-term growth prospects, according to CNBC. With its core ecosystem intact, Alphabet not only escaped regulatory pressure but also solidified its position as a leader in the technology race.

More importantly, the company is building strong investor confidence thanks to the breakthrough of Gemini - an advanced AI system deeply integrated into core products such as search, advertising and cloud computing.

Citi analyst Ron Josey even raised his price target on Alphabet shares from $225 to $280, citing "an accelerating product development cycle, particularly as Gemini begins to see widespread adoption in two strategic areas: advertising and cloud computing."

According to experts, although the lawsuits have not yet been completely closed - the antitrust lawsuit is still in the appeal process, which could last 18 - 24 months and could be brought to the US Supreme Court, Alphabet still holds the biggest strategic advantage: the ability to integrate AI into the entire ecosystem in a synchronous and profound way.

Fortune magazine assessed that it is this accumulation of technological power that is creating "a sustainable competitive advantage that very few other companies can copy".

Gemini - betting on the future

According to CNBC, the biggest challenge facing Alphabet today is the fierce competition in the AI ​​field. In this context, the "strategic card" Gemini is expected to become a key growth platform.

In 2025, despite the market being shaken by President Trump's new wave of tariffs, Alphabet will still increase investment by up to $85 billion to expand its data center system and accelerate the development of AI platforms, according to Reuters.

Alphabet is demonstrating a clear transformation. From the image of a "search giant", the company is increasingly asserting its position as a comprehensive technology corporation, leaving its safe zone and moving deeper into strategic areas of the future.

HEART AND SUN

Source: https://tuoitre.vn/alphabet-gia-nhap-cau-lac-bo-3-000-ti-usd-20250917010420272.htm