Alphabet nears $5 trillion after Google Cloud tops $20 billion
Business
Alphabet could potentially become the world's most valuable company, edging past NVIDIA.
After a nearly 10% jump in its stock price, Alphabet's market value now tops $4.6 trillion and is heading toward $5 trillion, thanks to better-than-expected earnings, especially from Google Cloud, which just pulled in over $20 billion.
NVIDIA dips below $4.9 trillion
Meanwhile, NVIDIA's value dipped below $4.9 trillion after its stock slid more than 6%.
The drop followed a report suggesting that OpenAI, a major NVIDIA partner, missed internal revenue and growth targets, making investors worry about the current state of AI products and services.
With Alphabet gaining ground and NVIDIA facing a tough earnings report ahead, we might see a new leader at the top soon.