Alphabet’s Gemini app hits 900 million users, driving an $84.75 billion capital raise and bullish analyst revisions.
Alphabet Inc. (GOOGL) has emerged as a key AI investment for billionaire Ken Griffin, with its Gemini app reaching 900 million active users and 350 million paid subscriptions. The company announced an $84.75 billion capital raise, signaling confidence in future growth.
Bank of America reiterated a Buy rating on June 4, citing potential healthy capital expenditure in 2026 or 2027. Piper Sandler raised its price target to $445 from $425, maintaining an Overweight rating. Alphabet trades at a forward P/E of 25.06, below the market average of 30.89.
Shares have surged 106% over the past year and 15% year-to-date, reflecting strong investor sentiment around its AI leadership and expanding user base.