From $23 billion to $3 trillion: Alphabet joins Apple, Microsoft and Nvidia in elite club

Alphabet Inc., the parent company of Google, has crossed a market capitalisation of $3 trillion, becoming only the fourth publicly listed firm to reach this milestone after Apple, Microsoft and Nvidia. The company’s stock climbed 4.3 per cent to close at $251.22 on 15 September 2025, lifting its market cap to $3.05 trillion.

Google’s $23 billion IPO to Alphabet’s restructuring

Google was listed on 19 August 2004 at a valuation of $23 billion (IPO price $85). It restructured into Alphabet Inc. in October 2015, setting the stage for faster growth and diversification.

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Rapid milestones: $1 trillion to $3 trillion valuation

Alphabet hit $1 trillion in January 2020 and $2 trillion in November 2021, before tripling its market value to reach $3 trillion in September 2025.

Alphabet stock surges 70 per cent from April lows

Shares of Alphabet have jumped nearly 70 per cent from their April lows, adding roughly $1.2 trillion in market value. So far in 2025, the stock is up 30–32 per cent, outpacing the Nasdaq Composite’s 15 per cent gain.

Alphabet’s valuation still looks attractive compared to peers

Analysts note Alphabet’s forward price-to-earnings ratio is around 23x, making it relatively cheaper compared with many other big-tech peers such as Apple, Microsoft and Nvidia.

India eyes its first $1 trillion company by 2032

ICICI Securities projects that India could see its first $1 trillion market-cap company by 2032, underlining how far Indian equities still have to climb to match US tech giants’ scale.