Alphabet briefly reached a market valuation of 4 trillion on Monday, as investor confidence surged following strong momentum in its artificial intelligence strategy and expanded partnerships.
The Google parent's shares rose as much as 1.7 to a record high before paring gains. The rally followed news that Apple will base the next generation of its AI models on Google's Gemini technology under a multi-year agreement.
Alphabet has also benefited from growing adoption of Gemini across the smartphone market. Samsung Electronics plans to double the number of mobile devices using Gemini-powered AI features this year, according to a previous Reuters report.
