The crown of the world’s most valuable company — as measured by market capitalization — has been worn by semiconductor giant Nvidia. The AI chip king settled with a market value of $4.85 trillion on May 1. However, its all-time of $5.27 trillion was set a few days earlier.
In the race to the unprecedented $6 trillion market cap club, some market observers believe Alphabet (GOOGL) will have something to say in the matter, potentially getting to the $6 trillion stratosphere before Nvidia. The race could put more eyeballs on the Direxion Daily GOOGL Bull 2X ETF (GGLL ), which attempts to deliver 200% of the daily performance of Alphabet shares.
For now, traders will have to “settle” for Alphabet’s market value being $4.65 trillion, but as the company’s first-quarter results suggest, there may well be plenty of gas left in the Alphabet market cap tank and that could augur well for occasional of GGLL.
Law of Large Numbers Not Yet Kicking In
As Alphabet and Nvidia confirm, the law of large numbers isn’t always at play. In the case of Alphabet, the company has added $2.64 trillion in market value over the past 12 months. Since the start of 2026, Alphabet added $900 billion in total. Regarding the market value competition with Nvidia and its potential implications for GGLL, it’s heating up.
Nvidia’s “gains over the past six months, however, have been flat, while Google has surged more than 36%, putting it on pace to overtake the AI chipmaker between now and its first quarter earnings update on May 20,” reported Martin Baccardax for Barron’s.
Of course, it bears reiterating that ETFs such as GGLL are not buy-and-hold vehicles. Investors should remember this in the run to $6 trillion. It could take Alphabet months (or longer) to get there. But the good news there will be ample opportunities for risk-tolerant traders to capitalize on Alphabet’s ascent with GGLL.
Alphabet’s artificial intelligence advancements and a record cloud computing backlog of $462 billion are among potential catalysts for share price appreciation and occasional use of the geared GGLL. And for the market historians out there, the title of world’s most valuable company isn’t unfamiliar territory for Alphabet.
“Google last topped the S&P 500 market cap list in February 2016, when it topped previous leader Apple following a stronger than expected fourth quarter earnings report that lifted its total value to $560 billion. It only held that title for two days, however, as Apple regained its lead on Feb. 3,” according to Barron’s.
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