"Google parent company Alphabet has reached a market value of $3 trillion (€2.55 trillion). The milestone follows optimism surrounding artificial intelligence and a favorable antitrust ruling that allows the company to retain control of Chrome and Android. For Alphabet, the market value of $3 trillion confirms that its AI strategy is heading in the right direction. The company is investing heavily in machine learning and natural language processing, which is now resulting in strong financial performance in the cloud division."
"The recent jump in the share price followed a ruling by a US federal judge allowing Alphabet to retain control of Chrome and Android. This decision eases the pressure on the company, which has long been under fire for its dominant position in search and mobile ecosystems. In addition, the cloud division contributed to investor confidence. In the second quarter, revenue rose by almost 32 percent, exceeding expectations. Alphabet's shares rose 4.6 percent to $251.88 (Class A) and 4.5 percent to $252.30 (Class C)"
Alphabet achieved a $3 trillion market capitalization amid optimism about artificial intelligence and a favorable antitrust ruling that allows retention of Chrome and Android. Significant investments in machine learning and natural language processing are producing stronger financial results, particularly in the cloud division. Cloud revenue rose nearly 32 percent in the second quarter, exceeding expectations and bolstering investor confidence. A US federal judge's ruling reduced regulatory pressure on the company. Shares of both Class A and Class C reached record highs, placing Alphabet among a small group of companies with multi‑trillion dollar valuations.
Read at Techzine Global
Unable to calculate read time
Collection
[
|
...
]