Google surpasses $2 trillion market cap

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Google's parent company, Alphabet, has recently surpassed a $2 trillion market capitalization, marking a significant milestone in its financial performance. This achievement was driven by a surge in Alphabet's stock, which increased by more than 10% shortly before markets closed, pushing its market cap to about $2.14 trillion. Alphabet's stock performance has been stellar, with a year-to-date increase of over 23% and a 59% rise over the last 12 months. This milestone positions Alphabet as the world's fourth most valuable publicly traded company, following Nvidia, Apple, and Microsoft, the latter holding a market cap of over $3 trillion. Alphabet's achievement is notable as it joins the exclusive $2-trillion club, which previously included only Apple, Microsoft, and Nvidia. The stock surge was partly fueled by Alphabet's strong quarterly results, which were released on Thursday and exceeded analysts' expectations. The company reported a nearly 60% surge in profits compared to the same period last year. This financial success was attributed to robust performances across its various platforms, including Google Search, YouTube, and Google Cloud. The introduction of over 1,000 new products and features in Google Cloud, enhanced by generative AI services through Google's AI model, Gemini, also contributed to this success. Additionally, Alphabet announced its first-ever cash dividend of 20 cents per share, which is expected to be paid to investors this summer. This move, along with a substantial stock buyback plan, has been well-received by the market and analysts alike, further boosting investor confidence in the company's stock. Overall, Alphabet's recent financial achievements highlight its strong market position and ongoing innovation in AI and cloud services, setting a positive outlook for its future growth and stability in the tech industry.
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