Alphabet, the parent company of Google, joins an exclusive club. It's now worth more than $3 trillion with shares worth about $251. Mandeep Singh of Bloomberg Intelligence has more on "Bloomberg The Close."

New York

Alphabet has surpassed a $3 trillion market capitalization, becoming one of only a handful of companies to reach this milestone, alongside NVIDIA, Apple, and Microsoft. The company's diverse business segments, including cloud computing and YouTube, are cited as key drivers of its valuation.

Analysts point to Alphabet's ability to maintain its core search business while expanding in cloud and generative AI as significant factors in its growth. Notably, Google has reported a tenfold increase in generative AI usage across its products over the past year, highlighting its leadership in this area.

Alphabet's market cap tops $3 trillion

We should point out, prior to today, you only had, what, three stocks with a $3 trillion market cap, NVIDIA, Apple, and, of course, Microsoft. Microsoft. Microsoft. All right, so Alphabet joins it. Look, I know we make a big deal out of these round numbers, but this has been, obviously, a juggernaut of a company for years now. But it does raise a question. A company of this size, this maturity, how do you sort of keep that momentum going? I mean, I think the whole DOJ case was a big overhang in terms of the valuation multiple. And since then, the fact that they keep all their assets intact, they can still have a partnership with Apple, I think that is the catalyst that's propping this up. And look, when you look at all their businesses, cloud, YouTube, I mean, cloud business could actually double over the next two years. And I think the Oracle backlog number was a good illustration of what these hyperscalers could do in terms of their cloud growth. So to my mind, if the search business is intact and cloud grows and YouTube grows, I mean, $3 trillion is, I think, very normal. Are you calling the $6 trillion now? I would be surprised if they keep going up from here. Well, I was joking in the commercial break, but I don't know if it's a joke that after NVIDIA hit $4 trillion, $3 trillion seems a little bit quaint here. I know they're in rarefied air. They have good company when it comes to the other companies that have market caps above $3 trillion. But realistically, if all of those things that you mentioned come to fruition, especially when it comes to the cloud business, I mean, is $4 trillion attainable? Is Romain Basik's $6 trillion attainable? So the one anecdote that Alphabet has shared that no one else has shared is the tokens per month. And it's a pretty big number. Google does 980 trillion tokens per month. That's grown 10x over the last 12 months. So imagine if you're in the business of Gen AI and your consumption has gone up 10x across your family of apps and products, that just goes to show that Google products are being used for generative AI. Even open AI doesn't have that sort of growth, albeit a much smaller base. So to my mind, that's the one metric that everyone should care about because it shows their Gen AI lead.

The United States and China reached a framework agreement to switch short-video app TikTok to U.S.-controlled ownership, U.S. officials said.

Washington County

U.S., China reach framework deal on TikTok

U.S. Secretary of State Marco Rubio met in Jerusalem with Israeli Prime Minister Benjamin Netanyahu, as close U.S. ally Qatar gathered other Arab nations' leaders for a summit to issue unified condemnation of last week's Israeli airstrike targeting Hamas leaders in the Qatari capital.

Jerusalem

Middle East Conflict

What to know about Rubio's trip to Israel, Qatar summit

President Trump announced the U.S. military has carried out a second strike on alleged Venezuelan "narcoterrorists" in international waters. Three men were killed.

Washington

Trump announces second strike on alleged drug boat from Venezuela

Arab and Islamic leaders are gathering in Qatar for an emergency summit following an Israeli attack on Hamas leaders in Doha. The meeting aims to show unity and increase pressure on Israel.

Doha

Arab, Islamic leaders meet in Qatar after Israeli attack on Hamas

HBO's medical drama, "The Pitt" beat out heavily-favored Apple TV's "Severance" for outstanding drama series at the Emmy Awards. Meanwhile, Apple TV's "The Studio" walked away with 13 awards and broke the Emmy record for the most wins by a comedy in a single season.

Los Angeles

"The Pitt," "The Studio," and "Adolescence" win big at Emmy Awards

U.S. Secretary of State Marco Rubio arrived in Israel on Sunday to meet with Prime Minister Benjamin Netanyahu and other officials amid the nation's recent strike in Doha, Qatar, and intensified attacks in Northern Gaza.

Israel hosts U.S. Secretary of State Marco Rubio

Over the weekend, tens of thousands of people marched through London in a rally billed as in support of free speech. Many of the chants and speeches at the rally, which was organized by a far-right activist, were protesting against immigration.

London

Thousands in London march in rally organized by far-right activist

U.S. and Chinese officials concluded a first day of talks in Madrid on their strained trade ties, a looming divestiture deadline for Chinese short-video app TikTok, amid Washington's demands that its allies place tariffs on imports from China over its purchases of Russian oil.

Madrid

Global Tariffs

U.S., China begin trade talks in Spain as TikTok deadline looms

Police are searching for a motive in Wednesday's killing of conservative activist and influencer Charlie Kirk. Authorities say interviews with family and friends of the 22-year-old suspect suggest he could have been radicalized in the dark corners of the internet.

Orem

Charlie Kirk shooting suspect 'not cooperating' with authorities

U.S. Secretary of State Marco Rubio said ahead of the trip that he will be seeking answers from Israeli officials about how they see the way forward in Gaza. Rubio's trip comes after Israel's attack on Hamas leaders in Qatar that upended efforts to broker an end to the conflict.

U.S. Secretary of State Marco Rubio in Israel for talks

Five U.S. F-35 fighter jets landed in Puerto Rico amid escalating tensions with Venezuela. Separately, Caracas said 18 armed U.S. Navy personnel raided a tuna boat sailing in Venezuelan waters.

San Juan

U.S. sends jets to Puerto Rico amid escalating tensions with Venezuela

U.S. President Donald Trump said he believes the Russia-Ukraine war would end if all NATO countries stopped buying oil from Russia and placed tariffs on China of 50 percent to 100 percent for its purchases of Russian petroleum.

Trump calls on NATO members to stop purchasing Russian oil

U.S. Secretary of State Marco Rubio arrived in Israel on Sunday, as Israel intensified its attacks against northern Gaza. The trip is taking place after President Donald Trump rebuked Israel over the unprecedented attack against Hamas leaders meeting in Doha.

Tel Aviv-Yafo

Marco Rubio visits Israel to push for Gaza ceasefire talks

NATO announced plans to beef up the defense of Europe's eastern flank on Friday, two days after Poland shot down drones that had violated its airspace in the first known action of its kind by a member of the Western alliance during Russia's war in Ukraine.

Warsaw

Ukraine Invasion

NATO bolsters its eastern flank after Russian drones hit Poland

Protests broke out in Chicago on Saturday against President Trump's immigration crackdown. A group of Catholic clergy led what they called a "People's Mass" outside the Great Lakes Naval Base. The base will also be used by Immigration and Customs Enforcement as a staging area for deportations.

Chicago

Tensions over immigration escalate in Chicago

More than 100,000 people took to the streets in London on Saturday, in what's believed to be the largest anti-immigration protest in British history. Organizers called it a "Unite the Kingdom" rally.

Huge crowds march for right-wing "Unite the Kingdom" rally in London

President Trump signaled a new position on Russia's war with Ukraine. He said the U.S. will agree to additional sanctions on Moscow, but only when NATO allies stop buying Russian oil. Willie James Inman has more details.

Trump says NATO must stop buying Russian oil

Tyler Robinson, the 22-year-old suspect in the murder of conservative activist Charlie Kirk, is being held in Spanish Fork, Utah. Officials have yet to identify a precise motive for Wednesday's shooting. Carter Evans has new developments.

Suspect's family says he recently became more political

NATO has launched operation Eastern Sentry to bolster its presence along the eastern flank of Europe, after Russian drones were found in Poland on Wednesday. Meanwhile, U.S. President Donald Trump is calling on all treaty members to increase economic pressures on Russia.

Trump calls on NATO members to impose sanctions on Russia

More than 100,000 people marched through central London on Saturday in a 'Unite the Kingdom' demonstration against immigration organized by far-right activist Tommy Robinson. Police said a number of officers were assaulted.

Thousands in London march against immigration

A former chief justice has been sworn in as Nepal's interim prime minister. For many people, Sushila Karki's appointment promises change. Days of violence and anti-government protests left at least 51 people dead.

Kathmandu

Curfew lifted in Kathmandu, violence in Nepal eases

A civil war within the Sinaloa cartel in western Mexico has forced thousands of people to abandon their villages. Rival factions are battling for territory and control. Communities caught in the middle of the violence are demanding change.

Culiacán

Mexico’s Sinaloa cartel war displaces thousands

The man accused of killing conservative commentator and activist Charlie Kirk is being held without bail in a Utah jail. Meanwhile, vigils and memorials across the country honored Kirk as his widow made her first public remarks since his death.

Charlie Kirk shooting suspect held without bail

President Trump has backed down on his plans to send the National Guard to Chicago, for now. Instead, he told Fox News that federal troops will be deployed to a different city.

Trump backs down on sending National Guard to Chicago

A suspect is in custody after the deadly shooting of conservative activist Charlie Kirk. Authorities say 22-year-old Tyler Robinson is being held at Utah County Jail, pending formal state charges, which are expected to be filed on Tuesday. CBS News' Andres Gutierrez and Anna Schecter have more.

What we know about the Charlie Kirk shooting suspect's arrest

The United Nations General Assembly has overwhelmingly voted to endorse a declaration outlining "tangible, timebound, and irreversible steps" towards a two-state solution between Israel and the Palestinians ahead of a meeting of world leaders.

UN endorses two-state solution declaration that condemns Hamas

In Tunisia, the humanitarian aid flotilla for Gaza is set to leave Tunis. About 40 boats will try to deliver aid to the Palestinians under blockade. In Tunisia the departure was not easy, as two boats from the flotilla were subject to reported drone attacks.

Tunis

Gaza aid flotilla prepares to set sail after reported drone attacks

Brazil's Supreme Court has sentenced firebrand ex-president Jair Bolsonaro to 27 years in prison for coup plotting at the end of a landmark trial that divided the nation and drew U.S. fury.

Brasilia

Brazil's ex-president Jair Bolsonaro sentenced to 27 years in prison

Israeli Prime Minister Benjamin Netanyahu signed an agreement to push ahead with a controversial settlement expansion plan that would cut across land that the Palestinians seek for a state. "There will never be a Palestinian state. This place is ours," Netanyahu said.

Breakdown