Fueled by AI Hype, Google Becomes Fourth Company to Pass $3 Trillion Market Cap

Google's parent company, Alphabet, has become the fourth company to reach a market capitalization of over $3 trillion, fueled by the growing hype around artificial intelligence (AI). The surge in Alphabet's stock price comes as the company continues to invest heavily in AI technologies, including language models like LLaMa and Bard. The AI boom has sparked a race among tech giants to develop and capitalize on these advanced technologies. However, some experts are warning of a potential AI bubble, cautioning that the current market frenzy may be outpacing the actual capabilities and real-world applications of these AI systems. The article notes that Alphabet's achievement follows similar milestones reached by Apple, Microsoft, and Saudi Aramco, highlighting the significant influence of AI on the tech industry's market valuations. As the AI landscape continues to evolve, investors and analysts will be closely watching for signs of a potential correction or stabilization in the sector.