Overview

• Alphabet’s shares climbed about 4% to record highs near $250–$252, lifting its valuation past $3 trillion and placing it alongside Nvidia, Microsoft and Apple.
• U.S. District Judge Amit Mehta rejected calls to force divestitures of Chrome and Android, instead ordering certain data sharing and limiting exclusionary default deals while permitting non‑exclusive revenue‑sharing agreements.
• Google Cloud revenue grew roughly 32% year over year in Q2 as adoption of Gemini models and in‑house TPUs accelerated, with a $106 billion RPO that Thomas Kurian says is more than half set to convert within two years.
• Analyst upgrades, including Citi’s price‑target increase to $280, and strong Gemini traction helped fuel the stock’s September rally to all‑time highs.
• Regulatory risk persists with an online advertising antitrust case and an FTC probe, and Alphabet must meet new compliance requirements on data sharing and contract terms.