Alphabet's Legal Victory Boosts Shares Amidst Antitrust Battle
Alphabet shares surged over 8% after a U.S. judge ruled against splitting the Google parent company. The decision, which allows Google to keep key business operations and continue partner payments, is expected to add significant value to the company and signals pragmatic regulatory approaches. Analysts view this as a stabilizing win for Alphabet.
Alphabet's stock soared more than 8% after a U.S. judge ruled against the breakup of the Google parent company, removing a significant regulatory burden. The decision is poised to add over $213 billion to Alphabet's market value, as it retains control of its Chrome and Android platforms while avoiding certain exclusive deals.
The ruling, which permits Google to keep paying partners like Apple to prioritize its search engine, saw Apple's shares rise by 3%. Analysts suggest the court favored practical solutions over aggressive actions, reinforcing Google's partnership with Apple and the possible integration of Gemini AI in upcoming iPhones.
This development follows the U.S. government's 2020 legal action against Google for alleged monopolistic practices. While the judge declined to break up the company, he mandated data sharing with competitors to foster fair AI tool competition, a move analysts believe offers limited advantage to rivals.
(With inputs from agencies.)
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