$2T is the new $1T
It looks like Alphabet might soon join the $2T market cap club, thanks to renewed investor confidence in its AI strategy, following its presentation of enterprise AI tools at its cloud computing conference this week. That confidence had been dashed following a string of AI mishaps, including being late to launch its own generative AI chatbot and releasing a genAI image generator that churned out nazis of color and other historical inaccuracies.
It’s worth noting that two of the other three companies in the $2T club, Nvidia and Microsoft, have also benefited from their proximity to the very buzzy AI industry. Apple, which has appeared to lag the others in AI development (it’s reportedly in talks with Google and Baidu to outsource genAI), has seen its stock decline this year. Don’t worry though, Apple is still worth a lot.
