Alphabet Inc. shares soared the most in two months on Wednesday as a wave of glowing reviews for the newly released version of its Gemini artificial intelligence model spurred investor confidence about the company’s position in the ever-changing tech landscape.
The stock rose as much as 6.9%, its biggest gain since early September, to hit a fresh record high. More than 376,000 call options on Alphabet changed hands as of 11:00 a.m. in New York, above the 20-day average of about 290,000 for a full day of trading. The broader S&P 500 Index was up about 0.5%, while the tech-heavy Nasdaq 100 gained 0.8%.
The Google parent on Tuesday launched the latest version of its Gemini artificial intelligence model, which was met with glowing reviews about its capabilities. The strength of the model stands in contrast to OpenAI’s GPT-5 model, which was met with mixed reactions when it was launched earlier this year.
