Alphabet nears Nvidia as world's most valuable company with $4.635T market cap after strong Q1 earnings.

Alphabet is closing the gap with Nvidia to become the world's most valuable public company, with a market cap of $4.635 trillion versus Nvidia's $4.823 trillion. Alphabet's stock surged over 20% year-to-date, driven by better-than-expected Q1 2026 earnings, including a 22% revenue increase and a 63% jump in Google Cloud revenue. The company's AI integration across products and expansion of Waymo are key growth drivers, contrasting Nvidia's hardware-focused AI chip dominance. Analysts are optimistic about Alphabet's diversified AI strategy, large cloud backlog, and strong digital advertising, raising price targets following the earnings report.