Alphabet (GOOGL) Stock Hits All-Time High Fueled by AI Growth
Alphabet Inc. shares surged to a record $291.64, completing a 60.4% annual rally as artificial intelligence initiatives drive transformative growth. The tech giant's market capitalization now stands at $3.51 trillion, outperforming the Nasdaq Composite's 21% year-to-date gain.
Google's Gemini AI application demonstrates remarkable adoption, amassing 650 million monthly active users in under three years. Cloud services backlog grew 46% annually to $155 billion, signaling robust enterprise demand for AI infrastructure. Third quarter earnings jumped 35% year-over-year, with the stock trading at a forward P/E of 25 for 2026.
The company strengthened its balance sheet through $17.5 billion in U.S. senior notes and €6.5 billion in euro-denominated debt offerings. While InvestingPro rates Alphabet's financial health as 'GREAT', current valuations exceed some fair value estimates.