Google Triumphs: Judge Blocks Breakup, Boosting Alphabet's Market Value
Alphabet shares soared over 9% after a U.S. judge ruled against splitting the company, adding $210 billion to its market value. The decision allows Google to keep its Chrome and Android systems while limiting some contracts. Analysts see this as a major victory for Alphabet.
Alphabet shares surged by more than 9% on Wednesday following a significant legal victory in the U.S., where a judge ruled against breaking up the tech giant. This decision adds $210 billion to Alphabet's market value, alleviating previous regulatory concerns.
The ruling, delivered by Judge Amit Mehta, enables Google to retain control over its Chrome browser and Android operating system, although certain exclusive contracts with device manufacturers are now restricted. This verdict is seen as a pragmatic approach to regulation by industry analysts.
This legal outcome bodes well for Google's future partnerships, especially with Apple, as they explore integrating advanced AI technologies like Gemini AI. The U.S. government had initially sued Google for monopolistic practices, but the ruling set forth specific data-sharing mandates aimed at fostering competition.
(With inputs from agencies.)
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