Alphabet Inc (NASDAQ:GOOG) has surpassed Apple Inc (NASDAQ:AAPL, XETRA:APC) to become the world’s second-most valuable company, trailing only Nvidia Corp (NASDAQ:NVDA, XETRA:NVD).
The move marks the first time Alphabet has topped Apple in market capitalization since 2019.
Alphabet closed Wednesday’s trading session with a market value of $3.89 trillion, slightly ahead of Apple’s $3.85 trillion. By Thursday, Alphabet’s lead widened, with a market cap of $3.94 trillion compared with Apple’s $3.81 trillion, as Apple shares fell 1.1% to about $257.
Alphabet’s rise has been attributed in part to its recent focus on artificial intelligence. Google, a subsidiary of Alphabet, has advanced its position in AI with its Gemini 3 model and custom AI chips, known as TPUs, which are drawing attention from major technology firms.
Alphabet’s strong stock performance in 2025, with shares rising about 66%, also benefited from reduced regulatory concerns and growth in its cloud business.
In contrast, Apple’s stock gained around 9% over the same period, hindered by delays in AI enhancements for products such as Siri, executive turnover, and broader investor concerns over valuation.