Alphabet Inc. surpasses Apple Inc. to become the world’s second-most valuable company with a market capitalization of $3.89 trillion, highlighting investor confidence in its leadership in artificial intelligence.

Alphabet’s shares rose 2.4 percent, widening the gap with Apple, whose stock declined following a six-day losing streak that erased nearly $200 billion in market value.

Analysts attribute Alphabet’s resurgence to its aggressive push into artificial intelligence, with the company being seen as a major beneficiary of the AI boom compared to Apple, which faces concerns about slowing hardware demand and the pace of its AI rollout.

Read more at Nasdaq: Alphabet Overtakes Apple To Become World’s Second-Most Valuable Company