Alphabet Inc. has become a dominant player in the AI technology market, with a significant presence in nearly every aspect of the technology.

The company's market capitalization has been gaining on Nvidia Corp.'s, with Alphabet's stock price soaring 43% since October 31, while Nvidia's is up just 6.3%.

Investors say Alphabet's diversified businesses, including Google Search, Google Cloud, YouTube, and Waymo, put it in a prime position to be the biggest winner in the AI trade, and potentially overtake Nvidia as the largest company in the world.

The ascent of Alphabet marks stunning a reversal. Less than a year ago, investors were dumping the stock as the company’s core search engine business was considered a potential victim of AI disruption. That started to change as Alphabet began incorporating AI into Google searches and Gemini became one of the most popular AI chatbots.

Now, analysts are rapidly increasing their earnings estimates. Over the past month, the consensus projection for Alphabet’s 2026 net income is up about 19%, and 2027 expectations have risen more than 7%, according to data compiled by Bloomberg.

bloomberg.com - AI wins have alphabet poised to become world s biggest company