Shares of Alphabet surged in after-hours trading, climbing above $399 and pushing the company’s market capitalization beyond $4.8 trillion—surpassing Nvidia to become the world’s most valuable company.
The rally was fueled by reports that Anthropic plans to spend approximately $200 billion over the next five years with Google on cloud infrastructure and AI chips.
The development underscores intensifying competition in the AI sector, as major tech firms expand computing capacity and invest heavily in data centers, supporting elevated valuations across the industry.