Depositary receipts for Alphabet, issued by Krungthai Bank (KTB) and traded on the Stock Exchange of Thailand under the ticker GOOG80, extended their rally on Friday by 1% to THB 5.15 per share, following the tech giant’s surge that saw its market capitalization overtake Apple’s for the first time in more than six years. GOOG80 rose 2% on Thursday.
At Thursday’s close, Alphabet’s valuation rose to $3.93 trillion, surpassing Apple, which ended the session at $3.83 trillion. Nvidia remains the world’s most valuable company, closing with a market cap of $4.50 trillion.
Alphabet concluded 2025 as one of Wall Street’s standout performers, fueled by renewed momentum in artificial intelligence. In November, the firm unveiled Ironwood, its seventh-generation tensor processing unit AI chip, seen as a viable rival to Nvidia’s hardware. Less than a month later, Google introduced Gemini 3, garnering positive reactions from the tech community.
Alphabet shares soared 65% in 2025—marking the company’s steepest annual increase since 2009, when its stock price doubled following the global financial downturn.
Chief Executive Sundar Pichai highlighted soaring customer appetite for cloud and AI offerings. During an earnings call in October, Pichai stated that Google Cloud inked more billion-dollar deals in the first three quarters of 2025 than in the previous two years combined.
By contrast, Apple has taken a more restrained approach to artificial intelligence, remaining largely on the sidelines of the sector’s race that accelerated in late 2022 when OpenAI introduced ChatGPT.
