Alphabet's Victory: Google Retains Monopoly Edge Post-Antitrust Ruling

Alphabet shares soared 8% after a judge ruled against breaking up Google, alleviating a major regulatory threat. The decision maintains Alphabet's control over its Chrome and Android platforms while allowing payments to partners, boosting market value by an estimated $206 billion.

Alphabet shares surged by 8% following a significant legal victory, as a U.S. judge declined to dismantle the tech giant Google. This ruling alleviates substantial regulatory concerns and is projected to increase Alphabet's market value by approximately $206 billion.

The judgement permits Google to retain oversight of its Chrome browser and Android system, while prohibiting specific exclusive contracts with device and browser manufacturers. Additionally, Google can continue financial arrangements with partners like Apple to feature its search engine, contributing to a 3.2% rise in Apple's shares.

The antitrust case initially filed in 2020 by the U.S. government accused Google of monopolistic practices in search services. Though the judge acknowledged antitrust law violations, the ruling stops short of dismantling Google, as artificial intelligence tools emerge as new competitors.

(With inputs from agencies.)