Alphabet(US:GOOG) Youtube·2025-11-25 16:30Core Viewpoint - Alphabet's shares are reaching all-time highs, with a significant increase of over 70% in 2025, and the company is approaching a $4 trillion market cap, joining Nvidia and Apple as the only other companies above this threshold [1][3]. Company Developments - Alphabet is currently valued at approximately $3.96 trillion and needs a 5% increase in share price to reach the $4 trillion mark [3]. - The company has seen a 12% increase in shares over the last month and a 25% increase in the past month, driven by key developments [4]. - A multi-year, multi-million dollar cloud deal with NATO has been announced, which is significant for Alphabet as it strengthens its client base [5]. - The release of Gemini 3 has received positive feedback, outperforming competitors like OpenAI's ChatGPT-5, enhancing Alphabet's position in the AI market [6]. Competitive Landscape - Google is reportedly pitching Meta to use its AI chips in data centers starting in 2027, which could be a multi-billion dollar deal for Alphabet [7]. - The introduction of TPUs designed for AI tasks positions Alphabet as a potential competitor to Nvidia, which currently leads the AI chip market [8]. - Meta's projected capital expenditure of $100 billion for 2026 suggests a significant investment in inference chip capacity, which could benefit Google if the deal materializes [9][10]. Market Dynamics - The market is diversifying its investments in AI chips, indicating a shift from reliance solely on Nvidia to considering other players like Alphabet [18]. - The competitive landscape is evolving, with companies like Alibaba also entering the AI market, adding complexity to the tech sector [19].