Alphabet hit just over $3 trillion dollars in market cap on Monday as investors continue to reward it after a federal judge declined to break the company up.
On Sept. 2, U.S. District Court Judge Amit P. Mehta outlined softer-than-feared remedies for his year-ago ruling that Google maintained an illegal monopoly in search. The DOJ had proposed stronger remedies, including that Alphabet-owned Google be forced to sell Chrome. Tech companies like Perplexity and Ecosia lined up with unsolicited bids. But that possibility has been nixed.
Beyond Google’s cash cow of search, its cloud computing business is also growing rapidly on the strength of its AI offerings. Alphabet now joins Nvidia ($4.3T), Microsoft ($3.8T) and Apple ($3.5T) in the three-t club with Amazon next up but a lap behind ($2.5T).