Alphabet (GOOGL) Stock Today, November 26, 2025: Near $4 Trillion as AI Chips, Gemini 3 and Buffett’s Bet Ignite the Rally

Meta description: Alphabet Inc. (NASDAQ: GOOGL, GOOG) is trading near record highs and edging toward a $4 trillion valuation on November 26, 2025, as investors pile into its AI chips, Gemini 3 model and Google Cloud growth. Here’s what’s moving the stock today.

Alphabet stock today: price, performance and valuation

Alphabet’s Class A shares (GOOGL) are trading around $324 today, modestly above Tuesday’s close near $323.44, after moving in a $320–$324 intraday range. ^[1]

Over the past year, the stock has surged roughly 89%, with a 52‑week range of about $140.5–$328.8, placing it just below its recent all‑time highs. ^[2]

Thanks to the AI-driven rally, Alphabet’s market capitalization is now close to $4 trillion, putting it in direct contention with Apple, Microsoft and Nvidia at the very top of global equity markets. ^[3]

Trading volume has cooled after Monday–Tuesday’s furious buying (when the stock jumped more than 7% across two sessions), but today’s action is essentially consolidation just below record territory—a pause after a historic run. ^[4]

Why Alphabet is suddenly the market’s AI favorite

Just months ago, many investors saw Google as behind OpenAI and Microsoft in generative AI. That narrative has flipped dramatically.

A widely praised rollout of Alphabet’s Gemini 3 model — with strong scores on reasoning, coding and tough benchmark tests — has convinced many on Wall Street that Google is now at or near the front of the AI pack. ^[5]

Several developments over the last few weeks have lit a fire under the stock:

Berkshire Hathaway stake: Warren Buffett’s conglomerate bought 17.8 million Class A shares, a position worth roughly $5–6 billion, a rare high‑growth tech bet for Berkshire. ^[6]
Gemini 3 enthusiasm: CEOs and analysts have publicly highlighted Gemini 3’s capabilities, with praise from high‑profile tech leaders adding to the momentum. ^[7]
A decisive antitrust win: Alphabet avoided a forced breakup in a key US antitrust case earlier this year, clearing a major regulatory overhang and opening the door to more aggressive AI expansion. ^[8]

Business Insider describes Alphabet as having “stormed the gates” of the market’s AI trade: the stock is up around 53% since its big legal victory in early September, and about 17% in just the last week. ^[9]

The AI chip story: TPUs, Meta talks and Morgan Stanley’s “big number”

The single most important theme for Alphabet stock today is AI hardware—specifically, Google’s in‑house Tensor Processing Units (TPUs).

According to multiple reports and analyst notes published today:

Meta Platforms is in talks to use Google’s TPUs in its data centers starting around 2027, potentially redirecting billions of dollars of AI‑chip spending away from Nvidia. ^[10]
Google has already inked a massive deal with Anthropic, which could use up to 1 million TPUs via Google Cloud in the coming years. ^[11]
Morgan Stanley estimates Alphabet could ship 500,000–1,000,000 TPUs externally by 2027, which it believes could lift Google Cloud revenue by roughly 11% and earnings per share by about 3%—and justify a valuation premium for the stock. ^[12]

Inc. magazine notes that Google’s TPUs, which power Gemini 3, are widely perceived as cheaper and more power‑efficient than comparable Nvidia GPUs, with some experts estimating up to four times better performance per dollar in certain workloads. ^[13]

This doesn’t mean Nvidia is obsolete—its GPUs remain the industry standard—but the market is rapidly repricing Alphabet as a full‑stack AI infrastructure player, not just a software and advertising giant.

Cloud growth and the “full‑stack” AI advantage

Alphabet’s AI story isn’t just about chips. It’s about owning the stack from hardware all the way up to consumer apps:

Chips: Google designs and controls its TPUs, and now increasingly sells that capacity to outside customers.
Models: The Gemini family of models underpins everything from developer APIs to consumer products.
Cloud: Google Cloud’s revenue hit about $15.2 billion in the latest quarter, up 34% year‑on‑year, as AI workloads pour into its data centers. ^[14]
Distribution: Google products—Search, Android, YouTube, Chrome, Workspace—touch billions of users daily, giving Gemini an enormous built‑in user base. ^[15]

This vertical integration is exactly what has spooked investors in Nvidia, whose stock has lagged while Alphabet surges. Articles today repeatedly frame the market as acting like “Google is coming for Nvidia’s crown in the AI race,” even though Nvidia insists it remains “a generation ahead” and continues to supply chips to Google. ^[16]

Morningstar’s new note, “Gemini Momentum and Possible Meta TPU Deal Underscore AI Capability”, argues that these AI wins reinforce Alphabet’s competitive position, even while the firm still sees the stock as roughly fairly valued after the huge run. ^[17]

Buffett, Broadcom and the broader AI trade

Alphabet’s rally is reshaping the entire AI ecosystem.

Buffett’s Berkshire stake has been taken as a powerful validation that Alphabet’s AI economics are durable, not just hype. ^[18]
An Investopedia piece today highlights Broadcom as a major beneficiary, since it’s a key partner in Google’s custom AI chips and also supplies Meta. Broadcom shares are up nearly 70% year‑to‑date, outpacing even many “Magnificent 7” names, as investors position for a world where Google and its partners eat into Nvidia’s share. ^[19]
Broader market coverage notes that Alphabet is now the best‑performing Magnificent 7 stock in 2025, with year‑to‑date gains around 70–71%, while some other AI favorites show signs of fatigue. ^[20]

In short, Alphabet has shifted from being seen as a latecomer in generative AI to arguably the flagship name of the current AI trade.

What top analysts and investors are saying today

Several fresh opinions published on November 26 help explain why the stock continues to draw money even after such a big move.

Gene Munster: “Best Magnificent 7 stock to own”

In a new interview, tech investor Gene Munster calls Alphabet his top pick among the Magnificent Seven for the next year, citing: ^[21]

Its growing AI dominance across both consumer products and infrastructure.
The potential of TPUs to become a second major profit engine alongside search ads.
The advantage of Google’s distribution, with an estimated 2.5 billion daily users, far more than ChatGPT’s user base.
A valuation of about 28x forward earnings, similar to peers—but which he argues deserves a premium given Alphabet’s positioning in both AI chatbots and AI chips.

Morningstar and Wall Street research

Morningstar’s new report emphasizes that Gemini 3’s strong reception and the possible Meta TPU contract validate Alphabet’s AI strategy, but the firm still labels the stock fairly valued rather than cheap after its 2025 surge. ^[22]

Analyst coverage tracked by Finviz shows a wave of price target hikes and new “Outperform/Buy” ratings in October and November, including a fresh Outperform from BNP Paribas Exane and multiple target upgrades into the high‑$200s and low‑$300s as the AI thesis has strengthened. ^[23]

TipRanks, meanwhile, highlights a top‑ranked analyst at BNP Paribas Exane who just initiated coverage of Alphabet with an Outperform rating, citing long‑term upside across cloud, advertising and AI. ^[24]

Billionaire wealth, headlines and sentiment

Alphabet’s rally is now so extreme that it’s visibly reordering the global rich list.

A Times of India report today notes that Google co‑founder Larry Page is now the world’s second‑richest person, with Sergey Brin also climbing past Jeff Bezos. Their gains are directly tied to Alphabet stock, which has added nearly $1 trillion in market value since mid‑October. ^[25]

These kinds of headlines—AI “awakening,” record highs, founders leaping up the billionaire rankings—tend to further reinforce bullish sentiment, attracting retail traders and momentum funds into the stock.

Key risks: can Alphabet keep this up?

For all the excitement, today’s news flow also hints at real risks investors should keep in mind.

Valuation and AI spending blow‑back
- Several commentators warn that Big Tech could overspend on AI infrastructure, turning today’s boom into tomorrow’s margin squeeze. A Wall Street Journal column this morning argues that it really is possible to spend too much on AI, even for giants like Alphabet. ^[26]
Regulatory scrutiny isn’t gone
- While Alphabet dodged the harshest outcome in a US antitrust case, regulators in the US and Europe continue to scrutinize its dominance in search, ads, mobile and now AI. Future rulings or new regulations on data use and AI models could limit upside. ^[27]
Fierce competition in AI
- OpenAI, Microsoft, Meta and others are still moving aggressively. NDTV and Bloomberg’s reporting both note that Alphabet’s edge in TPUs and Gemini doesn’t eliminate the risk that rivals could leapfrog it with different architectures or business models. ^[28]
Macro sensitivity
- Alphabet is still a mega‑cap growth stock. Its near‑$4 trillion valuation is highly sensitive to interest‑rate expectations and macro sentiment—today’s rally is happening alongside renewed hopes for Fed rate cuts, which could reverse if inflation flares again. ^[29]

What to watch next for Alphabet stock

If you’re following GOOGL/GOOG into the remainder of 2025 and into 2026, today’s news points to several key catalysts:

Confirmation (or not) of a Meta TPU deal – A signed, multi‑year contract for Google chips in Meta’s data centers would validate the Morgan Stanley “big number” thesis and could support further re‑rating of Alphabet as an AI hardware leader. ^[30]
Gemini 3 and product integration – Watch how quickly Gemini‑powered features roll out across Search, YouTube, Workspace, Android and Chrome, and whether they drive measurable engagement or revenue lift. ^[31]
Google Cloud margins – TPUs and AI services could push cloud margins higher, but massive capex might offset some of those gains. Upcoming earnings will be scrutinized for cloud profitability trends. ^[32]
Regulatory headlines – Any new antitrust actions, AI‑safety mandates or data‑use restrictions aimed at Alphabet could change the risk‑reward calculus quickly. ^[33]

Bottom line

As of November 26, 2025, Alphabet is the market’s AI story of the moment:

The stock is hovering around record highs near $320–$325 with a market cap close to $4 trillion. ^[34]
Investors are betting that Google’s combination of Gemini 3, custom TPUs, Google Cloud and massive consumer reach will make it a long‑term winner in AI infrastructure and applications. ^[35]
Big‑name buyers like Berkshire Hathaway and bullish calls from top analysts like Gene Munster are reinforcing the bullish narrative. ^[36]

At the same time, valuations are rich, competition is intense and the AI spending cycle is still in its early, uncertain stages. For traders and long‑term investors alike, Alphabet has become the center of gravity in the AI trade—rewarding, but not risk‑free.

Disclaimer: This article is for informational and news purposes only and does not constitute financial advice, investment recommendation or an offer to buy or sell any securities. Always do your own research or consult a licensed financial advisor before making investment decisions.