Here’s Why Google Parent Alphabet Is Up Today
Alphabet shares jumped on Monday following a report that the Google parent is planning to deploy a new chip to run its Gemini models more efficiently, adding a combined $15 billion to the net worths of cofounders Larry Page and Sergey Brin.
Shares of Alphabet rose 2.8% to above $356 as of Monday morning, a reversal from the 6.5% decline over the previous two sessions.
Page and Brin, who hold a combined 87.9% of Alphabet’s Class B shares, saw their net worths increase by $8 billion and $7.4 billion, respectively.
Page ($292.4 billion) ranks the second-richest person, directly behind Elon Musk ($781.2 billion), and ahead of Brin ($269.7 billion), according to Forbes’ estimates.
A boost in Alphabet’s stock price came as the company developed a new AI chip, referred to internally as “Frozen v2,” which Google engineers expect to be up to 10 times more energy-efficient than its predecessor, The Information reported Monday.
Alphabet reportedly plans to deploy the chip by 2028 to ease an internal shortage of AI computing power that has strained its operations and forced Google Cloud to turn away customers.
Alphabet did not immediately respond to Forbes’ request for comment.
Alphabet will report Q2 earnings after market close Wednesday. The firm is expected to report $117.1 billion in revenue and $2.90 earnings per share, according to FactSet, marking 21% and 25% surges over the same period last year, respectively. Wall Street anticipates quarterly spending to ramp up to roughly $45 billion, a nearly 26% increase over the previous quarter, as Alphabet has joined its mega-cap competitors in a broader build-up of AI infrastructure over the last year. Google Cloud revenue, a measure of demand for Alphabet’s AI products, is projected to have surged 65% to $22.4 billion.
87.5%. That’s how much Alphabet’s stock has risen over the last year, including a 13% increase so far in 2026.
Page and Brin, who cofounded Google in 1998, have seen their fortunes grow exponentially in recent years. Page’s wealth settled at just under $51 billion in 2020 before rising above $144 billion to start 2025, while Brin’s wealth surged from $49 billion to $138 billion over the same period. A difference in equity between Google’s cofounders is largely attributed to stock trades, as Brin has been more active selling his stake than Page, who last disclosed selling shares in 2022. Brin has also donated Alphabet and Tesla stock to nonprofit groups and to Parkinson’s disease research in recent years, including a $700 million donation last year.