Alphabet Inc. (GOOGL) shares are experiencing an uptick today, driven by a combination of factors. Notably, investment firm Jefferies highlighted Alphabet as one of the tech companies poised to benefit significantly from advancements in artificial intelligence software in the coming year. This positive outlook on AI potential has likely contributed to increased investor interest. Additionally, there has been a notable increase in call option activity for Alphabet, with volumes above normal and showing a bullish direction, indicating that investors are betting on further gains in the stock.
Furthermore, institutional interest in Alphabet has been on the rise. Tenere Capital LLC and National Bank of Canada FI have both significantly increased their positions in the company, with Tenere Capital raising its stake by 26.1% and National Bank of Canada FI by 26.9% during the third quarter. This surge in institutional buying reflects growing confidence in Alphabet's future prospects, particularly in its AI and cloud computing segments.
Alphabet's stock is currently trading at $197.21, up 3.89% from its previous close of $189.82, and has risen 2.24% from its opening price of $192.88.