Google’s parent company, Alphabet, is now worth $3 trillion, a feat only achieved by three other tech giants: Nvidia, Microsoft, and Apple.

On Monday, Alphabet’s shares experienced an increase of over 4%, propelling the company to reach a historic market capitalization of $3.03 trillion. Market capitalization is calculated by multiplying a company’s share price by its total number of outstanding shares, essentially reflecting the company’s overall value.

Alphabet reached the $3 trillion milestone slightly more than two decades after Google made its public debut in 2004, and over a decade since Alphabet’s formation as Google’s parent company.

Alphabet’s market cap has surged, rising over 70% from its low of $1.8 trillion in April. This recent burst in value is attributed in part to a favorable antitrust decision in the Department of Justice (DOJ) versus Google case earlier this month. The lighter-than-expected penalties suggested by the DOJ contributed to a more than 20% increase in Alphabet shares over the past month.

^{Alphabet CEO Sundar Pichai. Photographer: David Paul Morris/Bloomberg via Getty Images}

Following the ruling, Alphabet saw a $234 billion boost in its market cap. The company’s stock has risen more than 30% this year, whereas the Nasdaq index overall has climbed 15% this year according to CNBC.

Wall Street generally views Alphabet stock favorably. More than 80% of Wall Street analysts recommend buying the stock as of Monday, per Bloomberg.

Alphabet now stands alongside other tech industry giants in the $3 trillion club — and even beyond. Apple reached the $3 trillion benchmark in June 2023, while both Nvidia and Microsoft have exceeded the $4 trillion threshold.

Nvidia hit the $3 trillion market cap in June 2024 and went over $4 trillion by early July, boasting a market cap of $4.3 trillion at this writing. Microsoft reached the $3 trillion milestone in January 2024 and surpassed $4 trillion in late July, though its market cap has settled at $3.8 trillion at the time of writing.

Alphabet’s focus in recent years has been on artificial intelligence, as the company strives to compete with Meta, OpenAI, and other key players in the AI race. While announcing its second-quarter earnings in July, Alphabet mentioned that it was increasing its AI expenditures from $75 billion to $85 billion amid growing demand for its cloud and AI services.

“AI is positively impacting every part of the business, driving strong momentum,” Alphabet and Google CEO Sundar Pichai stated in the earnings report.