Google’s parent company, Alphabet, has reached a market capitalization of $2 trillion. It had previously reached this mark in 2021, but quickly lost ground. On Friday the corporation closed the negotiation for the first time without missing out on any new achievements.
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According to Bloomberg data cited by Business Insider, the company has caught up with Nvidia, Apple and Microsoft in the “over $2 trillion club.” This happened after the financial report presented for the first quarter of 2024, where Alphabet showed revenue that exceeded expectations.
“Over the past 8 months, we have announced over 1,000 new cloud products and features. At Google Cloud Next, more than 300 customers and partners spoke about their successes in the field of artificial intelligence using Google Cloud, including global brands such as Bayer, Cintas, Mercedes Benz, Walmart and many others,” said Sundar Pichar, CEO of Alphabet, commenting on high performance.
He noted that success relies heavily on Google’s revenue and, in particular, Google Cloud with Gemini AI services. The corporation will continue to invest in innovation in the field of AI, as it believes that this field is the key to business growth.
Earlier this month, the company announced that it would develop its own central processing unit, called Axion, to help train complex artificial intelligence models.
The company also delighted investors by announcing it would expand its share buyback program by $70 billion.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
