Alphabet Inc.'s announcement of its new quantum computing chip, Willow, has sparked investor interest, positioning the company at the forefront of technological innovation. The chip's ability to perform complex calculations in mere minutes has been a significant driver of positive sentiment, overshadowing concerns about competition from AI-powered search engines. The strategic $70 billion buyback program further bolsters investor confidence, contributing to the stock's upward momentum.
The Direxion Daily GOOGL Bull 1.5X Shares (GGLL) ETF rose 1.07% to $40.55 as of 16:40 on Monday, December 9.