Alphabet (GOOGL) Stock Today – November 28, 2025: AI Chip Buzz, EU Antitrust Twist and Near‑Record Highs

Alphabet Inc. (NASDAQ: GOOGL, GOOG) heads into the final stretch of November 2025 near record levels as AI momentum, fresh regulatory developments in Europe and big institutional trades keep Google’s stock in the spotlight.

Key Takeaways

Alphabet stock is trading near all‑time highs after a powerful AI‑driven rally; Class A shares closed Wednesday at $319.95 with a 52‑week range of $140.53 to $328.83. ^[1]
Google has withdrawn its EU antitrust complaint against Microsoft’s cloud business, as Brussels pursues a broader probe that could designate Amazon and Microsoft as “gatekeepers” under the Digital Markets Act. ^[2]
AI remains the core narrative: reports that Meta may use Google’s custom AI chips, strong reception for Gemini 3, and debate over whether AI spending will translate into profits are all driving volatility in Alphabet and its peers. ^[3]
Technical and valuation signals are flashing “hot” – Alphabet is described as “the most overbought ever by one measure”, while some models see fair value close to current prices and the average analyst target now sits below the market price. ^[4]
Big money is still piling in: from Berkshire Hathaway’s $4.9 billion stake earlier this month to Cathie Wood’s ARK buying roughly $56 million of shares and fresh moves from multiple institutional investors. ^[5]

Alphabet Stock Price Today: Hovering Near Records

Alphabet’s monster AI run remains intact as of Friday, November 28, 2025:

Class A (GOOGL) closed on the most recent full trading day, Wednesday, Nov. 26, at $319.95, down about 1.1% on the day but just below this week’s record closing high around $323. ^[6]
Investing.com data puts GOOGL’s 52‑week range at $140.53–$328.83, underscoring how far the stock has run in a year. ^[7]
Class C (GOOG) is quoted around $320.28, roughly 1% below its recent peak, according to TradingView. ^[8]

Alphabet has also been one of the few large‑cap tech names that actually gained in November, with MarketWatch citing roughly a 13.8% return for the month and ranking it among the sector’s rare winners as many peers stalled or pulled back. ^[9]

In short: even after a small breather, Alphabet is still trading within a few percentage points of all‑time highs and sits near the top of 2025’s mega‑cap performance table.

EU Antitrust Twist: Google Drops Complaint Against Microsoft Cloud

The headline regulatory development today is Google’s decision to abandon its formal antitrust complaint against Microsoft’s cloud business in Europe.

Reuters reports that Google has withdrawn its EU complaint alleging that Microsoft locked customers into Azure with anti‑competitive practices, following news that the European Commission has launched a broader investigation into cloud‑computing competition. ^[10]
A CoinCentral breakdown notes that Amazon leads the cloud market with about 30% share, Microsoft has 20% and Google about 13%, and that the EU probe could see Azure and AWS designated as “gatekeepers” under the Digital Markets Act (DMA) within a year. ^[11]

From a stock perspective, this move:

Removes the optics of Google directly attacking a rival, while still leaving the door open for regulators to curb Microsoft and Amazon’s power.
Keeps the regulatory spotlight mostly on competitors in cloud, potentially benefitting Google Cloud at the margin if DMA rules force rivals to open up more.

It doesn’t radically change Alphabet’s fundamentals overnight, but investors watching long‑term cloud competition see this as a constructive shift in the regulatory chess game.

AI Chips, Gemini 3 and the “Profitability of AI” Debate

Alphabet’s rally is deeply tied to the market’s AI trade, and today’s commentary continues to revolve around that theme.

Meta eyes Google’s AI chips

Recent reporting has highlighted that Meta is considering adopting Google’s custom Tensor Processing Unit (TPU) chips for its AI data centers. That potential move has been blamed for a sharp November slide in AMD shares and added pressure on Nvidia, as investors contemplate a more serious Google challenge in AI hardware. ^[12]
Reuters’ “Week Ahead” piece notes that big swings in Alphabet and Nvidia have been driven by AI‑related headlines, underscoring how sensitive markets have become to news on AI profitability, chip deals and cloud demand. ^[13]

Gemini 3 momentum and AI leadership narrative

An Investopedia wrap‑up earlier this week pointed out that Alphabet shares jumped more than 6% in one session following the launch of its Gemini 3 AI model, hitting new all‑time closing highs. ^[14]
Business Insider describes Alphabet as having “stormed the gates of the AI trade”, arguing that the stock became the “hottest company in the sector” after a string of catalysts: a landmark legal victory, the Gemini 3 rollout, and disclosure of a major Berkshire stake. ^[15]

Market‑wide AI questions

At the same time, some strategists warn the market is re‑examining how quickly AI investment turns into earnings:

Reuters notes that investors are increasingly focused on whether massive AI infrastructure spending across big tech will actually deliver profits on the timelines currently priced into stocks, with Alphabet highlighted as a key test case as its market value nears about $4 trillion. ^[16]

For Alphabet, the takeaway is that expectations are extremely high: the market is rewarding its AI progress, but any sign that AI chip demand, Gemini monetization or cloud margins disappoint could trigger outsized volatility.

Technical Picture: “Most Overbought Ever” and a Hot November

On the technical side, Alphabet is flashing some very stretched momentum signals:

A MarketWatch / Dow Jones report today describes Alphabet’s stock as “the most overbought ever by one measure”, signaling that at least one key technical indicator is more extended than at any prior point in the stock’s history. ^[17]
Another MarketWatch piece on November’s trading notes that Alphabet is among the few large‑cap tech stocks with solid gains this month, helping support the Nasdaq even as many AI peers cooled off. ^[18]

Quant and forecasting services echo the “hot but trending” message:

StockInvest.us projected a fair opening price around $320.41 for GOOGL today, essentially flat to slightly higher versus the last close, and lists the recent trend as positive but acknowledges the risk of a pullback after the steep run. ^[19]
A similar assessment for GOOG notes that the Class C shares fell just over 1% on Wednesday, remaining close to their recent high at $320.28. ^[20]

For traders, this combination – overbought readings plus relentless upward momentum – typically means:

The long‑term trend is still bullish, but
The probability of short‑term shakeouts or profit‑taking is elevated, especially if there is any negative news on AI, regulation, or the macro backdrop.

Big Money Flows: Berkshire, ARK and 13F Activity

Alphabet’s story in late 2025 is also about who is buying and selling the stock behind the scenes.

Berkshire’s rare tech bet

Back on November 17, Reuters revealed that Berkshire Hathaway had built a new stake of 17.85 million Alphabet shares, worth about $4.9 billion at the time. ^[21]

Key points from that report:

The purchase pushed Alphabet to a record high and represented a rare large‑cap tech bet from traditionally tech‑averse Berkshire.
The article noted Alphabet shares were already up about 46% year‑to‑date and roughly 14% in the current quarter, making it the best‑performing member of the “Magnificent Seven” at that point. ^[22]
Analysts cited Alphabet’s AI infrastructure, expanding cloud business and strong advertising cash flows as reasons it still fit Buffett’s value‑oriented philosophy despite the hype around AI.

ARK Invest loads up on Alphabet

Today, CoinCentral reports that Cathie Wood’s ARK Invest bought 174,293 Alphabet shares across four funds, a purchase valued at about $55.8 million based on a closing price near $320.50. ^[23]

In the same trading session:

ARK sold $38.6 million of AMD and $59 million of Palantir, rotating capital away from some earlier AI winners.
The article notes that Alphabet’s stock has risen around 70% over the past 12 months and is approaching a $4 trillion market value, and that Wood has explicitly said she does not believe AI is in a bubble. ^[24]

That move reinforces the narrative that both value investors (Berkshire) and growth‑oriented, innovation‑focused managers (ARK) see Alphabet as a core AI platform rather than a late‑cycle bubble stock.

Other institutional moves

MarketBeat’s flurry of November 28 alerts highlights further institutional repositioning:

Westwood Holdings Group lists Alphabet as its 10th‑largest position. ^[25]
Quadrature Capital and Northwestern Mutual Wealth Management both disclosed new purchases of Alphabet Class C (GOOG) shares. ^[26]
Harvard Management Company, which oversees Harvard University’s endowment, reported trimming its Alphabet stake, underlining that not all large investors are adding at these levels. ^[27]

Taken together, the flows show robust institutional interest, though some long‑time holders are locking in gains after the enormous 2025 run.

Fundamentals: Ads, Cloud and AI Distribution

Behind the headlines, the fundamental story remains centered on Alphabet’s three pillars: Search/Ads, YouTube and Cloud.

Advertising engine still growing

Zacks’ analyst blog today notes that:

In Q3 2025, Alphabet’s Google‑related revenues were about $74.2 billion, up 12.6% year‑over‑year, representing more than 85% of total revenue.
YouTube ad revenue grew about 15% to $10.26 billion, and search revenue continued to benefit from AI‑driven ranking improvements. ^[28]

The same piece highlights that Meta, Alphabet and Amazon together are expected to account for over 50% of global ad spending in 2025, rising to about 56% in 2026, underlining the “triopoly” in digital advertising power. ^[29]

Cloud and AI distribution

A Seeking Alpha analysis published this morning argues that Alphabet’s true AI advantage is distribution, not just hardware:

It estimates Q3 2025 revenue at just over $102 billion, with Google Cloud contributing about $15.2 billion, up roughly 34% year‑over‑year, turning what was once an “also‑ran” into a key growth engine. ^[30]

This dovetails with Reuters’ note that investors “piled into the stock” after recent earnings showed AI investment helping transform Google Cloud into a major profit driver. ^[31]

Forward forecasts and fair value estimates

Simply Wall St’s latest narrative on Alphabet (dated today) provides a snapshot of how one fundamental model sees the company:

It projects revenue reaching about $512.6 billion and earnings $148.4 billion by 2028, implying ~11.3% annual revenue growth from current levels.
Its DCF‑style model yields a fair value estimate around $318.24 per share, very close to the current trading range.
Community‑submitted valuation estimates on the platform span roughly $171–$340 per share, highlighting wide disagreement over how much of the AI opportunity is already priced in. ^[32]

Meanwhile, StockAnalysis.com says that 42 analysts covering Alphabet have a consensus “Buy” rating with an average 12‑month price target near $297 – slightly below today’s ~$320 share price for GOOG/GOOGL. ^[33]

That combination – bullish ratings but a target below the market price – suggests the rally has outrun many base‑case models, even as analysts remain generally positive on the business.

Legal and Regulatory Risks: From Nest to Antitrust

Not all the news flow is positive.

Simply Wall St points to a recent federal class action lawsuit in California alleging that some of Google’s Nest smart‑home devices (Nest Hub, Nest Hub Max, Nest Mini and Nest Audio) suffer from reliability problems that the company allegedly failed to fix or disclose adequately. ^[34]
The article argues that this adds to Alphabet’s ongoing legal and regulatory scrutiny, but is unlikely to outweigh the near‑term catalyst of surging demand for its AI infrastructure and chips, unless it snowballs into a broader consumer‑protection issue. ^[35]

On the other side of the ledger, Alphabet’s landmark antitrust win earlier this year – which allowed it to avoid divesting the Chrome browser – is cited by Business Insider as a key inflection point, clearing a major regulatory overhang and setting the stage for the stock’s recent 50%+ surge. ^[36]

Today’s EU cloud complaint withdrawal fits into that broader theme:

Rather than constantly fighting rival‑focused cases, Alphabet seems more willing to let regulators set the rules while leaning into its own AI and cloud advantages.

Still, regulation remains the single biggest long‑term risk investors repeatedly point to, especially as Alphabet’s size and AI footprint make it an unavoidable target for governments worldwide.

Macro Backdrop: Futures Glitch, Rate‑Cut Hopes and AI‑Heavy Indexes

Today’s trading sits in a slightly unusual macro environment:

A technical glitch at the Chicago Mercantile Exchange briefly froze US futures trading, though Bloomberg notes that mega‑cap tech names like Alphabet, Amazon and Microsoft were still edging higher in pre‑market stock trading. ^[37]
Broader US indexes are extending a rebound after their biggest pullback since April, helped by market expectations of a Federal Reserve rate cut in December. Reuters estimates the S&P 500 is up about 16% year‑to‑date, with tech and AI names still dominating overall returns despite recent volatility. ^[38]

That backdrop matters because Alphabet now wields enormous influence over index performance. As its market cap approaches the $4 trillion mark, swings in GOOGL and GOOG can have outsized effects on the Nasdaq and S&P 500 – which is one reason regulators, strategists and individual investors are all watching it so closely.

What to Watch Next for Alphabet Stock

For anyone tracking Alphabet/Google stock into year‑end, the key things to monitor after today’s news are:

AI monetization and chip deals
- Any confirmation of large external customers (like Meta) adopting Google’s TPUs would reinforce the thesis that AI hardware and cloud services can become a second profit pillar alongside ads. ^[39]
Regulation and EU decisions
- The EU’s cloud investigation, including potential gatekeeper designations for Azure and AWS under the DMA, could subtly reshuffle competitive dynamics in cloud over the next year. ^[40]
Macro and Fed policy
- A December rate cut would likely support high‑growth, AI‑sensitive names like Alphabet, but any disappointment on rates or economic data could hit expensive tech stocks hardest. ^[41]
Valuation and technical cooling‑off
- With Alphabet flagged as “most overbought ever” by at least one technical gauge, watching whether the stock consolidates, corrects, or powers higher from here will be crucial for timing‑focused traders. ^[42]
Q4 2025 earnings and updated AI commentary
- The next earnings call will be investors’ chance to ask how quickly Gemini 3, AI search features and cloud AI services are translating into revenue and margin – and whether the current pace of AI capex is sustainable.

Bottom Line

As of November 28, 2025, Alphabet / Google stock remains one of the defining stories of this AI‑driven market:

It is near record highs,
Attracting capital from some of the world’s most closely watched investors,
Benefitting from strong ad and cloud fundamentals,
Yet simultaneously facing elevated regulatory, legal and valuation risks.

For market participants, Alphabet has become both a barometer of AI enthusiasm and a key test of whether that enthusiasm can be justified in profits.

Note: This article is for informational purposes only and does not constitute financial or investment advice. Always consider your own objectives and risk tolerance, and consult a qualified professional before making investment decisions.

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