On Wednesday (November 19th) Eastern Time, Google parent company Alphabet's stock price rose the most in two months. Its newly released artificial intelligence (AI) model Gemini was widely praised, thus enhancing investors' confidence in the company's competitiveness in the AI field. Google rose as much as 6.9% during the day, with its stock price reaching $303.68, a new all-time high. However, as concerns about overvaluation of technology stocks still dominate the market, as the market continues to fall, Google's share price growth narrowed to 3% as of press time.
Google on Tuesday launched the Gemini 3 model, which received unanimous praise for its performance. This outstanding performance is in sharp contrast to the large model GPT-5 released by AI research company OpenAI earlier this year, which received mixed reviews when it was launched.
"Is Gemini 3 where GPT-5 should be?" Robert Baird & Co. analyst Colin Sebastian wrote in a note to clients. Citing the model's "extremely high ratings," he said: "In addition to advantages in search engagement and profitability, Google combines real-time web indexing with advanced model training, which we believe is a key competitive advantage."
The release of Gemini 3 is one of the many good news for Google recently. Earlier this week, Loop Capital upgraded Google's stock rating to "buy," saying that previous concerns about the stock had been "dispelled by waves of AI craze."
Google also received the endorsement of Berkshire Hathaway, owned by Warren Buffett. The 13F filing disclosed by Berkshire last week showed that it established a position in Google in the third quarter, ranking the tenth largest position.
So far this year, Google has risen as much as 56%, making it the strongest performer among the "Magnificent 7" and its growth rate is more than three times that of the Nasdaq 100 Index.
Google's share price surge this year began in September, when the company won a favorable ruling in an antitrust lawsuit from the U.S. Department of Justice, eliminating the need for a business spinoff. Since then, Google's stock price has risen by about 40%.