Alphabet’s market cap is edging close to Nvidia; has GOOG risen over 150% in a year—can you still buy now?

Alphabet (Google and its parent company) successfully reversed negative market sentiment about it falling behind in the artificial intelligence space over the past year, instead showcasing a dominant position in technology and market applications. Benefiting from strong growth in its search engine and cloud businesses, along with market approval for its self-developed chips (TPUs), GOOG’s share price rose by more than 150% over the past year. Analysts say Alphabet’s Gemini AI models, YouTube platform, and Waymo autonomous driving technology give it greater resilience when facing market volatility. Alphabet’s market capitalization has neared that of chip giant Nvidia, reflecting investors’ confidence in its diversified AI ecosystem. At present on Polymarket, confidence is growing that it will surpass Nvidia again to reclaim the position of the world’s most valuable company by market cap.

Alphabet isn’t knocked out by AI—its diversified ecosystem becomes the biggest winner

A year ago, investors were selling Alphabet stock because the company’s core search engine business was considered at risk of being disrupted by artificial intelligence. But as Alphabet began integrating AI into Google Search, and Gemini became one of the most popular AI chatbots, that situation started to change.

(Alphabet’s earnings beat expectations; GOOG jumps 6% to a new high)

Alphabet has successfully built a complete AI ecosystem integrating hardware, software, and cloud services. Its self-developed Tensor Processing Unit (TPU) chips are becoming a key draw for enterprise customers. CEO Sundar Pichai said these chips will soon be made available for Google Cloud customers to run in private data centers. Analysts predict that revenue from TPU-related infrastructure will grow significantly from $3 billion in 2026 to $2.5 billion in 2027. Compared with Nvidia’s role as a single chip supplier, Alphabet’s Gemini AI models and its investment in Anthropic (as Anthropic prepares to go public, investment returns have been gradually taking shape) give it advantages in both large language model R&D and compute infrastructure, creating a vertically integrated competitive edge.

Alphabet’s diversified business model builds a competitive moat

Investment analysts believe Alphabet has a chance to challenge for the global number-one spot by market cap because its reach extends into many key areas across the technology industry. In addition to its core Google Search engine and YouTube platform, Waymo autonomous driving and Google Cloud’s continued expansion together form a solid revenue matrix. Compared with hardware suppliers that may face cyclical risks if AI spending slows, Alphabet’s business diversification gives it stronger resilience against risks. This broad competitive moat allows Alphabet’s sustained influence in the internet era to be quantified as long-term market value growth—even if growth in a single segment is blocked, other segments can provide a buffer.

GOOG’s share price has risen more than 150% in a year—can you still buy now?

As Alphabet deeply integrates AI technology into its core search business, market views on its profit outlook have shifted significantly. According to data compiled by Bloomberg, analysts raised their estimated 2026 net income for Alphabet by about 19% over the past month. The stock is currently trading at about a 28x forward P/E, which is above the 10-year average of 21x; yet amid an AI-led growth cycle, some institutions believe this valuation level remains reasonable. Notably, value investor Berkshire Hathaway also built a position in the stock last year. Although analysts’ predicted average upside may slow over the next year, the strength of its financial fundamentals and the trend of earnings revisions still support its leading position in the technology sector.

Polymarket bets that Alphabet’s odds of reclaiming the top spot by market cap are rising

Nvidia’s market cap is currently $5.2 trillion, while Alphabet trails closely with $4.8 trillion. Confidence on Polymarket that it will surpass Nvidia and reclaim the position of the world’s most valuable company by market cap is rising. Alphabet’s probability of returning to the number-one market cap position increased from 9% at the end of May to 30% by the end of December.

This article, Alphabet’s market cap is closing in on Nvidia; GOOG’s one-year rise of more than 150%—can it still be bought now?, first appeared on 鏈新聞 ABMedia.