Overview
- The Google parent briefly surpassed Apple in market capitalization for the first time since 2019, reclaiming the No. 2 spot globally.
- The latest rally followed reports that Apple selected Google's Gemini to power device AI features and came alongside strong reviews for Gemini 3.
- Google Cloud posted 34% third‑quarter revenue growth with a $155 billion backlog, signaling accelerating enterprise demand for its AI stack.
- Alphabet began renting its in‑house AI chips to outside customers, and The Information reported Meta is in talks to buy the chips for data centers starting in 2027.
- A September court ruling against breaking up the company reduced regulatory risk, reinforcing the shift in investor sentiment.