Google’s parent company Alphabet has become the fourth Big Tech group to hit a $4tn market value, fuelled by investor optimism that its AI models can compete with rivals such as OpenAI.
Alphabet shares closed 1 per cent higher in New York on Monday, after jumping earlier in the day following news of a deal with Apple that will entail Google’s Gemini AI models powering a revamped version of Siri, the iPhone’s virtual assistant.
The move capped a more than 6 per cent rise in the past month and carried the company over a threshold already surpassed by Nvidia, Microsoft and Apple.
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