Alphabet reached a market capitalization of just over three trillion dollars on Monday. Investors continue to reward the company after a federal judge declined to order its breakup. On September 2, U.S. District Court Judge Amit P. Mehta outlined remedies that were softer than many had feared. This followed his ruling a year ago that Google maintained an illegal monopoly in search.
The Department of Justice had proposed much stronger remedies, including a requirement that Alphabet-owned Google be forced to sell its Chrome browser. Several tech companies, including Perplexity and Ecosia, had lined up with unsolicited bids to acquire Chrome. However, that possibility has now been officially rejected.
Beyond Google’s cash cow of search, its cloud computing business is also growing rapidly. This growth is largely on the strength of its artificial intelligence offerings. Alphabet now joins an elite group of companies with a market valuation exceeding three trillion dollars. Its peers include Nvidia at 4.3 trillion, Microsoft at 3.8 trillion, and Apple at 3.5 trillion. Amazon is next in line but remains a lap behind with a valuation of 2.5 trillion dollars.