Alphabet (NASDAQ: GOOGL) has seen significant recovery, with its stock rising over 42% from its 52-week low and gaining more than 18% in the past quarter. As of Thursday, it was the only stock among the Magnificent Seven to close positively, indicating growing market leadership. Despite being up only 5.5% for the year, recent performance and catalysts suggest a potential shift from laggard to leader.
In a landmark agreement, Alphabet, Kairos Power, and the Tennessee Valley Authority will supply 50 megawatts of nuclear power to data centers in Tennessee and Alabama, with plans for up to 500 megawatts by 2035. Additionally, reports of a $10 billion, six-year cloud services deal with Meta Platforms, which will utilize Google Cloud for AI workloads, highlight Alphabet’s growing influence in the AI sector.
Technically, GOOGL’s stock is breaking into a bullish trend, with an opportunity to surpass its 52-week high of $207.50 if momentum continues. Strong Q2 earnings and easing regulatory concerns further position Alphabet favorably for future growth.
