Alphabet Nears Nvidia Market Cap Lead on 63% Cloud Growth
Alphabet is closing in on Nvidia for the top market cap spot, at $4.67 trillion versus $4.79 trillion, driven by 63% Google Cloud growth and higher AI spending. Shares have climbed 24% this year as Alphabet begins direct sales of custom AI chips and extends its cloud lead.
1. Market Cap Race
Alphabet’s market capitalization reached $4.67 trillion, closing the gap with Nvidia’s $4.79 trillion valuation as the search giant vies for the top spot for the first time since 2016.
2. Cloud Revenue Surge
Google Cloud revenue grew 63% in the first quarter, the highest rate since the segment began reporting in 2020, outpacing analysts’ forecasts and rival hyperscalers.
3. AI Strategy and Chip Sales
Alphabet has ramped AI spending on custom processors, started selling its in-house AI chips directly to select customers such as Anthropic and positioned itself as a key competitor to Nvidia in AI hardware.
