- Google’s parent company Alphabet has created over $2 trillion in value on the New York Stock Exchange since November 2021.
- Microsoft and Apple has exceeded $2 trillion until early this year. However, Nvidia surpassed $1 trillion with AI craze, and surpassed 2 trillion dollars in March, and the first time of March.
The number of companies with a market capitalization of more than $2 trillion has increased to four in the New York Stock Exchange, and Google has been found to have joined the ranks.
Googles joining
Google’s parent company, Alphabet, announced it would pay its first dividend with earnings in the first quarter of this year, which exceeded expectations. As a result, the stock price soared in after-hours trading, and the market capitalisation again exceeded $2 trillion.
Alphabet reported in its earnings report that its sales rose to 80.54 billion dollars in the first quarter of this year from $69.8 billion a year ago, according to the Financial Times on the 25.
It added that its EPS also rose from $1.17 to $1.89. Both sales and EPS exceeded Wall Street estimates of $79 billion and $1.53.
Also read: Google establishes new department to deliver groundbreaking AI experiences
Continuous growth
Microsoft and Alphabet have been leading the AI craze that originated from ChatGPT in November 2022 by installing Generative AI in their products and cloud services.
Also read: 28 Google employees fired after a sit-in protest
Both their sales and net income in the first quarter exceeded market expectations. In particular, cloud service sales grew 31% and 27%, respectively, compared to the same period last year, indicating that AI demand is increasing.
In the case of Alphabet, capital expenditure reached $120 billion in the first quarter. This year, investment will also be the level of investment this year.
