Alphabet on pace to hit $4 trillion market value as AI gains momentum

Alphabet was on track to hit a historic $4 trillion market valuation on Tuesday, powered by an impressive year-long rally fueled by the Google parent's sharpened focus on artificial intelligence tools.

Shares of the company were up 4.1% at $331.7 in premarket trading, putting the company on course to breach the key milestone at the open.

The search and ad tech giant joins an elite club of Big Tech companies racing to dominate the booming technology as AI continues to captivate Wall Street this year.