Alphabet’s market capitalisation surged above $3tn for the first time on Monday as the search giant’s shares have surged in recent weeks in the wake of a report showing the group continues to grow rapidly.
Shares in Google’s parent company have climbed more than 30 per cent to a record high of $252 since the group posted double-digit growth in revenue and profit in quarterly results out in late July.
The rally means Alphabet joins Nvidia, Microsoft and Apple as the only US companies valued above $3tn. Chipmaker Nvidia in July became the first company to hit a $4tn market value.
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