Alphabet shares double in a year as AI and cloud growth fuels investor buying

Alphabet's stock has risen from under $180 to around $360 per share in the past 12 months, effectively doubling its value. In the most recent quarter the company reported revenue of $109.9 billion, up 22 % year‑over‑year, and earnings per share rose 82 %, although a large portion of the increase stemmed from unrealized investment gains. The primary driver of the surge is Google Cloud, whose revenues grew 63 % and whose backlog nearly doubled, signalling strong demand for AI‑powered infrastructure.

Berkshire Hathaway, led by Warren Buffett’s successor Greg Abel, deepened its position in Alphabet with a $10 billion private‑placement as part of an $80 billion equity raise, underscoring confidence in the company's long‑term AI strategy. Other institutional investors also increased stakes, including Trilogy Capital’s $6.7 million holding and sizable purchases by Norges Bank, Vanguard and Capital World Investors.

Despite the bullish outlook, Alphabet faces regulatory pressures, notably a €4.1 billion antitrust fine upheld by the EU Supreme Court and a Swedish court ruling ordering nearly $2 billion in damages over a price‑comparison dispute.