Google has achieved a market capitalization of $2 trillion, surpassing Alphabet’s previous milestone. This comes after facing challenges such as generative AI and regulatory scrutiny, prompting strategic adjustments within the company. Google announced a dividend payout and share buyback program alongside its Q1 2024 earnings report. The tech giant now ranks as the fourth most valuable publicly traded company globally, trailing behind Nvidia, Apple, and Microsoft. Google has begun monetizing AI in various ways, including assisting advertisers and implementing AI tools for companies like Discover Financial and Ikea. CEO Sundar Pichai emphasizes a cautious approach to evolving search functionality. Despite a slight decline in search and ad revenue, Google reported a profit of $23.7 billion on revenue of $80.5 billion in Q1 2024. The company has seen a slowdown in layoffs, spending only $716 million on severance and related charges in the first quarter of 2024. Google continues to thrive in its core businesses, with recent financial reports showing positive growth.
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Google’s market cap hits $2 trillion, faces AI challenges. #Tech
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