Alphabet $GOOGL ( ▲ 1.24% ) just hit a major milestone Wall Street’s been waiting for.
Google’s parent company closed at a record-high stock price of $331.86, pushing its market cap just above $4 trillion, as investors reward a string of high-profile wins for its Gemini AI model, including blockbuster partnerships with Apple $AAPL ( ▲ 0.31% ) and Walmart $WMT ( ▲ 2.03% ) .
And the momentum is not slowing. The stock was up nearly 1% again in premarket trading today.
Gemini Just Got the Two Best Distribution Deals in AI
The biggest headline is Apple.
After months of speculation, Apple announced a multiyear partnership to use Gemini to power its AI assistant Siri, which is essentially Apple admitting: Google’s model is good enough to become the brain behind one of the most-used consumer products in the world.
Then came Walmart.
Walmart announced it will partner with Google to let customers browse and purchase products directly through Gemini, putting the chatbot in front of millions of shoppers and turning Gemini into something bigger than “answering questions.” This is a real test of whether AI chatbots can drive commerce at scale.
AI Shopping Is Becoming the New Battlefield
Walmart’s move is not happening in a vacuum.
Amazon $AMZN ( ▼ 1.57% ) , OpenAI, and Microsoft $MSFT ( ▼ 1.36% ) are all experimenting with AI shopping experiences too, trying to turn chatbots into the new storefront, the new search bar, and the new impulse-buy engine all at once.
That is why this Walmart partnership matters so much. It’s not just a feature. It’s distribution.
The $4 Trillion Club Is Getting Smaller, Not Bigger
Microsoft and Apple both crossed $4 trillion in the past, but have since dipped back below the mark.
Right now, Google and Nvidia $NVDA ( ▲ 0.47% ) are the only companies currently valued above $4 trillion, which tells you how concentrated the AI winner narrative has become.
Bottom line: this is the cleanest “AI validation” moment Google has had yet. Gemini is no longer trying to prove it’s competitive. It’s proving it has the partnerships and real-world reach to dominate.