Alphabet Nears Nvidia Lead at $4.81T Market Cap After Ark Buy and Q1 Surge

Alphabet's market cap has reached $4.81 trillion, trailing Nvidia's $5.05 trillion, amid bets it could soon overtake as the world's largest company. The rally follows Ark Invest's purchase of under $30 million in GOOG shares on May 6, when the stock traded near $400 under 30x trailing P/E, spotlighting underpriced AI and quantum growth. Blockbuster Q1 FY2026 results—$109.90B revenue (+21.8% YoY), $5.11 EPS (94% above consensus), and Google Cloud up 63% to $20.03B with $460B backlog—drove a 13.77% weekly gain to May 6.