Alphabet (GOOG) (GOOGL) shares popped in premarket trading Tuesday, putting the technology conglomerate on track to reach the historic $4 trillion market capitalization.
Shares of the company were up 4.46% at $332.7 in premarket trading on Tuesday, after closing over 6% high on Monday.
The latest rally comes as The Information reported that Meta (META) is in discussions to use Google’s (GOOGL) (GOOG) AI chips, known as tensor processing units, or TPUs, in data centers in 2027.
Alphabet has surged more than 68% year-to-date, adding roughly $1.5 trillion in market value this year. Strong reviews of its new Gemini AI model, along with growing demand for AI chips, have further boosted investor sentiment.
Market caps of other megacap tech firms stand at: Nvidia (NVDA) $4.44T; Meta Platforms (META) $1.55T; Broadcom (AVGO) $1.78T; Apple (AAPL) $4.08T; Oracle (ORCL) $570.96B; Advanced Micro Devices (AMD) $350.11B; Palantir Technologies (PLTR) $386.55B; and Microsoft (MSFT) at $3.52T.