Alphabet stock’s $4 trillion flashpoint: Google’s AI refocus puts it back in the lead
New York, January 12, 2026, 11:02 EST Alphabet surged past a $4 trillion market cap on Monday, highlighting the rapid shift in investor sentiment toward Google’s AI ambitions. https://www.reuters.com/business/alphabet-hits-4-trillion-valuation-ai-refocus-lifts-sentiment-2026-01-12/ This shift matters now as Big Tech’s AI spending spree bumps up against a crucial question: who can convert their hardware and models into steady cash flow, and who’s merely leasing pricey compute power from others. Alphabet shares dipped 0.3% to $327.47 in late morning trading. The stock has climbed roughly 65% over the last year and gained about 6% year-to-date in 2026. The rally has propelled Alphabet closer to Nvidia,