Alphabet Surmounts $3 Trillion Market Cap Hurdle Amid DOJ Breakup Setbacks

Alphabet Surpasses $3 Trillion Market Cap After DOJ Setbacks In a significant milestone, Alphabet's market capitalization reached just over $3 trillion on Monday, following a federal judge's decision to decline the Department of Justice's (DOJ) bid to break up the company. This development comes after U.S. District Court Judge Amit P. Mehta outlined softer remedies for Google's alleged monopoly in search on September 2. Timeline and Details The DOJ had proposed stronger remedies, including forcing Alphabet-owned Google to sell Chrome, but this possibility has been nixed. Tech companies Perplexity and Ecosia had lined up with unsolicited bids to acquire the browser. The ruling has sparked a surge in investor confidence, driving Alphabet's market value past $3 trillion. Immediate Impact The company's cloud computing business is also experiencing rapid growth, fueled by its AI offerings. This expansion contributes significantly to Alphabet's overall valuation. As a result of this milestone, Alphabet joins an elite group of companies with market capitalizations exceeding $3 trillion, including Nvidia ($4.3T), Microsoft ($3.8T), and Apple ($3.5T). Background Context The DOJ's initial ruling in 2020 found Google to have maintained an illegal monopoly in search. The proposed breakup would have had significant economic implications for the tech industry. However, Judge Mehta's softer remedies have alleviated concerns about a potential disruption. What Happens Next As Alphabet continues to grow, investors will be closely watching its cloud computing business and AI offerings. With Amazon trailing behind at $2.5T, it remains to be seen whether the e-commerce giant can catch up with the tech behemoths. For now, Alphabet's market capitalization stands as a testament to the company's resilience and adaptability in the face of regulatory challenges. *This story is developing. Information compiled from Techcrunch reporting.*