AI Wins Set to Make Alphabet World’s Biggest Company

Over the past year, Alphabet has gone from being viewed as an artificial intelligence afterthought to becoming one of the dominant firms across nearly every segment of the technology sector.

On Oct. 31, Nvidia’s market capitalization stood at $4.9 trillion, while Alphabet’s was below $3.4 trillion. (Photo: OutreachPete, Wikimedia Commons)

The company is now nearing Nvidia in market value, Ryan Vlastelica reported for Bloomberg News.

“Alphabet holds a significant position in almost every corner of the AI ecosystem, and the combination of everything it offers puts it in a prime position to be the biggest winner of AI,” said Luke O’Neill, chief investment officer at CooksonPeirce Wealth Management, which owns stakes in Alphabet and Nvidia.

Google’s parent company closed Friday with a market capitalization of $4.8 trillion. Nvidia stood at $5.2 trillion after a three-day rally at the end of the week.

The gap between the two companies has narrowed considerably over the past six months as Alphabet shares surged, including a 34% gain in April — its best monthly performance since 2004.

On Oct. 31, Nvidia’s market capitalization stood at $4.9 trillion, while Alphabet’s was below $3.4 trillion. Since then, Alphabet shares have climbed 43%, while Nvidia has risen 6.3%, trailing both the S&P 500 and the Nasdaq-100.