In 2025, Alphabet’s share price rose by 65% as key catalysts converged. The release of the Gemini 3 large-language model in November drove a 6% one-day gain on November 24, while an antitrust ruling on September 3 allowed Google to retain control of its Chrome browser and Android operating system, triggering a 9% jump in the stock. These developments reversed earlier investor concerns sparked by the debut of Bard in 2022 and signaled renewed confidence in Google’s AI leadership and strategic positioning.

Through the first three quarters of 2025, Alphabet reported 14% year-over-year revenue growth, reaching $289 billion, with operating income climbing in line to $93.1 billion. Google Cloud continued its double-digit expansion, while search advertising maintained its dominant market share. These results underscored the company’s ability to scale its core businesses even as it invests heavily in next-generation AI infrastructure and Waymo’s autonomous vehicle service.

In early 2026, Alphabet secured a landmark multi-year agreement with Apple to power Siri with Gemini models and host related workloads on Google Cloud. The deal is expected to broaden Gemini’s edge-AI distribution across iOS devices and accelerate paid subscription conversions for Google’s AI offerings. Additionally, Google reported 1.5 billion monthly users of its AI Overview feature and processing rates of 7 billion tokens per minute during Q3 2025, highlighting growing demand for its AI tools and services.

Waymo, Alphabet’s autonomous driving unit, further extended its service footprint in select U.S. metropolitan areas in late 2025, increasing coverage to over 25 cities and logging more than 2 million driverless miles. Management projects that Waymo could become a major revenue contributor by 2028, leveraging its safety-certified sensor and compute architecture to partner with multiple automakers. Investors view this expansion as a key long-term growth driver beyond Google’s core advertising and cloud businesses.