Alphabet (GOOGL) Stock: Gemini 3 Launch Pushes Shares to All-Time High

TLDR

• Alphabet stock hit a record closing high of $292.82 on Wednesday, up 3% after launching its Gemini 3 AI model
• Gemini 3 outperforms OpenAI’s GPT 5.1 and rivals from xAI, Meta, Alibaba, and DeepSeek in benchmarks, though costs more to use
• Gemini’s monthly active users jumped to 650 million from 450 million in July, while ChatGPT has 800 million weekly active users
• D.A. Davidson analysts called Gemini 3 “the current state-of-the-art” and praised its benchmark scores and real-world performance
• Google is launching Gemini Agent for task completion and Google Antigravity coding platform for AI Ultra subscribers

Alphabet stock closed at $292.82 on Wednesday, marking a new record high. The 3% gain came after Google unveiled its Gemini 3 AI model on Tuesday.

Alphabet Inc., GOOGL

The stock has climbed more than 70% since Barron’s picked it at the start of 2025. Wednesday’s close puts Alphabet within striking distance of Microsoft’s position as the third-largest U.S. company by market value.

Premarket trading showed shares rising 1.6% before the regular session opened. Investor enthusiasm carried through the full trading day.

Google CEO Sundar Pichai presented Gemini 3 as the company’s most advanced AI model to date. The launch drew positive reactions from Wall Street analysts and tech reviewers.

William Blair analyst Ralph Schackart noted a shift in sentiment. Investors previously doubted Google’s AI capabilities but now view the company as a “full-stack AI winner.”

Performance Against Competitors

Gemini 3 went head-to-head with OpenAI’s latest model in benchmark tests. According to Artificial Analysis, Gemini 3 Pro beats GPT 5.1 in general intelligence and coding tasks.

The model also outperformed offerings from xAI, Meta Platforms, Alibaba, and China’s DeepSeek. However, Gemini 3 carries a higher price tag for users.

D.A. Davidson analyst Alexander Platt compared the launch to OpenAI’s GPT-5 release. He said GPT-5 received mixed reactions in August, performing better in qualitative assessments than benchmark scores showed.

Platt praised Gemini 3 for delivering strong benchmark scores backed by quality real-world performance. He called it “the current state-of-the-art” based on initial testing.

OpenAI responded last week with GPT 5.1, an updated version promising better intelligence and communication. The timing put both companies in direct competition.

User Growth Numbers

Gemini’s user base reached 650 million monthly active users. That’s up from 450 million in July, showing 200 million new users in about four months.

ChatGPT still leads with 800 million weekly active users. OpenAI’s platform grew from roughly 700 million weekly users in July.

The gap between the two services is narrowing. Google’s growth rate appears faster in recent months.

Cantor analyst Deepak Mathivanan said model improvements typically drive user growth. He plans to watch Gemini app metrics and search engagement to measure Gemini 3’s impact on Google’s core business in 2026.

Google AI Ultra subscribers get access to Gemini Agent, an experimental feature. The tool handles tasks like inbox organization and travel booking.

The company also launched Google Antigravity, a new development platform for AI-powered coding. Both features aim to expand Gemini’s practical applications.

Google DeepMind announced Wednesday it’s opening an AI research lab in Singapore. The facility will work with governments, academic institutions, and businesses across Asia-Pacific to improve Gemini’s capabilities and apply models to Google products and Cloud customers.

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