Alphabet hits $3 trillion in market capitalisation for the first time

Google-parent Alphabet hit a market capitalization of $3 trillion for the first time on Monday, riding on renewed optimism around artificial intelligence and a favorable antitrust ruling.

Class A shares of the company were up 4.6% at $251.88, while Class C shares climbed 4.5% to $252.3 – both trading at record highs.

Alphabet joined companies including iPhone maker Apple and Microsoft that have also clinched valuations of $3 trillion. AI-leader Nvidia has crossed the $4 trillion mark.

The latest boost for the Google-parent was a ruling by a U.S. federal…