Alphabet, the parent company of Google, has become only the fourth company in history to reach a $3 trillion market valuation, as investor enthusiasm over artificial intelligence and relief from a favourable US antitrust ruling drove shares to record highs. Shares in the California-based group climbed more than 4 per cent on Monday, pushing its market cap to $3.04 trillion. The stock has risen 31 per cent so far this year, buoyed by strong earnings, rapid AI adoption, and a landmark legal reprieve earlier this month. Google had a very good day yesterday.”The company has not avoided regulatory scrutiny altogether. Alphabet shares closed up 10.81 points, or 4.49 per cent, at $251.61 on Monday.