Google Shares Jump Nearly 7% to Record High

On Wednesday, November 19, Alphabet's stock surged to a two-month high following the launch of its new AI model, Gemini, which has earned widespread praise and reinforced confidence in the company's AI capabilities.

Shares of Google's parent company rose as much as 6.9% intraday, hitting $303.68, a record high. However, concerns over high valuations in tech stocks limited gains, and the stock closed up 3% as broader markets retreated.

The launch of Gemini 3 on Tuesday drew strong attention for its impressive performance, contrasting with earlier reactions to OpenAI's GPT-5, which received mixed reviews. Colin Sebastian, analyst at Robert Baird & Co., noted in a client report: "Is Gemini 3 the level GPT-5 should have reached?" He highlighted the model's "high acclaim" and added, "Combining real-time web indexing with advanced model training gives Google a key competitive edge beyond search engagement and profitability."

Gemini 3 is the latest in a string of positive developments for Google. Earlier this week, Loop Capital upgraded the stock to "buy," citing how waves of AI enthusiasm have alleviated previous investor concerns.

The company also received a vote of confidence from Warren Buffett's Berkshire Hathaway, which disclosed in its latest 13F filing that it established a Google position in Q3, ranking it among its top ten holdings.

Year-to-date, Google's shares have climbed 56%, outpacing other members of the "Magnificent 7"and tripling the gains of the Nasdaq 100. The stock's surge began in September after a favorable U.S. Department of Justice ruling in its antitrust case, removing the threat of a forced business breakup. Since then, Google's shares have gained around 40%.