Alphabet (GOOGL) reached a record close of $299.66, driven by strong earnings, rising cloud demand, and advancements in artificial intelligence (AI). The stock has surged approximately 59% this year, largely due to excitement surrounding its AI capabilities, particularly the Gemini 3 model, which surpassed a competitor by 17% in code generation. Analysts noted its enhanced reasoning speed and improved responsiveness. Additionally, Alphabet launched a new version of its Tensor Processing Unit, optimized for larger AI workloads with better energy efficiency, appealing to enterprise cloud customers. Waymo, Alphabet’s autonomous vehicle division, further boosted investor confidence with plans to expand ride-hailing services in three U.S. cities, creating new revenue streams beyond advertising and cloud services. The latest quarterly results showcased earnings of $2.87 per share and a 16% revenue increase to $102.35 billion, reinforcing the company’s growth potential in the evolving tech landscape.
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