Google Parent Alphabet Sees Stock Price Rise Amid Positive Developments

Alphabet Inc., the parent company of Google, saw its stock price rise by 1.2% on Friday, with the highest price reached at $346.20 and closing at $344.82.

This increase comes after several positive developments for Alphabet, including upgrades from Rosenblatt Securities, which upgraded the company to 'strong buy' and set a price target of $410, citing substantial upside following Alphabet's strong earnings report.

Another factor contributing to the stock's rise is Alphabet's AI spending, which continues to attract major customers and suppliers. Marvell's custom-chip agreement with Google includes a warrant structure that would require up to $120 billion in cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet's TPU and AI infrastructure buildout.

Additionally, Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet's autonomous-driving unit.