# Alphabet’s market capitalisation surged past $4.6 trillion after a 10% stock jump on Q1 2026 earnings.

*business · news · 2026-05-02 · TNW*

## Key points

- Google Cloud's quarterly revenue grew 63% to surpass $20 billion, with backlog nearly doubling to $460 billion.
- Alphabet's 2026 capex guidance rose to $180-190 billion, signaling faster-than-expected AI infrastructure returns.
- AI Overviews in Google Search drove all-time record query volumes, disproving fears of AI cannibalizing search.
- Options traders now see a 53% chance Alphabet surpasses Nvidia in valuation before mid-May.
- Cloud revenue growth was temporarily limited by compute constraints, not demand, per Sundar Pichai.

**Companies:** Alphabet, Nvidia
**Countries:** United States

[Read the full story on TNW](https://thenextweb.com/news/alphabet-overtake-nvidia-market-cap-mag-seven)

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