Alphabet vs. Amazon: The High-Stakes Market Cap Race Since September 2024

Alphabet (Google) and Amazon have long competed for market capitalization dominance. Alphabet led until 2018, but their valuations have often mirrored each other since. Beginning in September 2024, the two companies have demonstrated strikingly parallel growth.

By January 31, 2025, both reached a market capitalization of $2.5 trillion. Between December 2023 and January 2025, Alphabet's valuation climbed 44%, while Amazon's soared 59%, underscor

ing their formidable growth and rivalry in the tech sector.