Home / Business and Economy / Gemini 3 Fuels Alphabet Stock Surge
Gemini 3 Fuels Alphabet Stock Surge
25 Nov
Summary
- Alphabet stock price reached $317.75, a first, following Gemini 3 AI model news.
- Gemini 3 reportedly outperforms competitors and utilizes Google's custom AI chips.
- Google Cloud revenue grew 34%, surpassing Microsoft and Amazon.
Alphabet's stock price surged nearly 6% on Monday, with shares of GOOGL and GOOG trading above $300 and reaching an intraday high of $317.75 for the first time. This significant gain was primarily driven by the positive reception of Google's Gemini 3 AI model, which analysts suggest surpasses the capabilities of offerings from OpenAI and Anthropic.
The advanced AI model's performance is bolstered by its utilization of Google's custom-designed AI chips, a development that intensifies competition for semiconductor manufacturers like Nvidia. This technological advancement is reflected in Alphabet's overall market performance, which has seen a substantial 70% increase over the past year, accompanied by strong quarterly financial results.
In addition to the AI breakthrough, Google Cloud reported impressive growth, with revenue climbing 34% and outperforming major competitors such as Microsoft and Amazon. The company's Gemini traffic share has also seen a considerable rise, indicating growing user adoption and market presence.
