Alphabet Inc.周一市值突破4万亿美元，收涨1%至331.86美元，对应市值略高于4万亿美元，并被投资者视为人工智能热潮的主要赢家之一。该公司近期超越Apple Inc.成为市值第二大公司，仅次于Nvidia Corp.；历史上只有Nvidia、Apple和Microsoft Corp.突破过4万亿美元门槛，而Nvidia仍是唯一曾突破5万亿美元的公司。
此次上涨部分源于消息称Alphabet与Apple达成多年期协议，为iPhone制造商的AI技术（包括Siri语音助手）提供支持；Apple周一上涨0.3%。Alphabet股价今年迄今上涨6%，在2025年超过65%的涨幅基础上继续走高，并使其成为“Magnificent Seven”中2025年表现最佳者；2025年的上涨令其市值增加了近1.5万亿美元。
情绪改善反映出市场认为Alphabet在AI关键领域具备主导地位：其最新Gemini模型的好评缓解了对OpenAI等竞争者的担忧，而其tensor processing unit芯片被视为未来收入增长的潜在重要驱动。该股目前约为预期盈利的28倍，接近自2021年以来最高水平，高于10年平均的20.5倍；其估值倍数在2025年年中曾降至接近14倍。尽管估值上升，Alphabet相对整体Magnificent Seven Index仍略有折价；Berkshire Hathaway Inc.在11月披露其于第三季度建立了Alphabet持仓，为其“价值”叙事提供了罕见的科技股背书。
Alphabet Inc. crossed above a $4 trillion market capitalization on Monday, closing up 1% at $331.86 and translating to a market value just over $4 trillion, as investors increasingly view it as a major winner of the AI boom. The company recently overtook Apple Inc. to become the second-largest firm behind Nvidia Corp.; only Nvidia, Apple, and Microsoft Corp. have ever topped the $4 trillion threshold, and Nvidia remains the lone company to have crossed $5 trillion.
The gain was partly driven by news that Alphabet entered a multiyear deal with Apple to power the iPhone maker’s AI technology, including the Siri voice assistant; Apple rose 0.3% on Monday. Alphabet shares are up 6% year to date, extending a 2025 rally of more than 65% that made it the top performer among the Magnificent Seven; that 2025 surge added almost $1.5 trillion to its market value.
Improving sentiment reflects views that Alphabet holds dominant positions across key AI areas: strong reviews of its latest Gemini model eased concerns about competition from OpenAI and others, while its tensor processing unit chips are seen as a potential driver of future revenue growth. The stock trades around 28 times estimated earnings, near its highest since 2021 and above its 10-year average of 20.5; the multiple fell to nearly 14 in mid-2025. Despite the valuation swell, Alphabet still trades at a slight discount to the overall Magnificent Seven Index; Berkshire Hathaway Inc. disclosed in November that it built a stake in Alphabet in the third quarter, a rare “value” validation for a big tech name.