Yesterday, the owner of Google saw its value above $2 trillion for the first time.
Alphabet shares soared more than 10 per cent after it outlined plans to pay its first dividend and launched a £56bn share buyback.
The company also said revenue rose 15 per cent to £65 billion in the first three months of the year.
That figure was higher than the £63 billion expected by analysts.
When the shares rose more than 10 per cent, that added almost £160 billion to Alphabet’s value, leaving it worth around $2.1 trillion, or £1.7 trillion.
On a roll: Alphabet shares soared more than 10 per cent after it outlined plans to pay its first dividend and launched a £56bn share buyback.
It is the fourth publicly traded company to reach this milestone, after tech giants Apple and Microsoft and oil major Saudi Aramco.
Social media platform Snap joined the rally, rising nearly 30 percent, after posting a strong set of first-quarter results.
Sales rose 21 per cent to £960 million alongside a 10 per cent increase in daily active users to 422 million. The technology firm added that its technology was first used at the Super Bowl event in February.
Snap founder Evan Spiegel, who is married to Australian model Miranda Kerr, saw the value of his stake rise by £105m.
Back in London, the FTSE 100 continued its record run by hitting an intraday high of 8,146.79. The blue-chip index ended the session up 0.8 percent, or 60.97 points, to 8,139.83, a record close.
That took weekly gains to 3.1 percent, its best weekly performance since September last year. Russ Mould, chief investment officer at broker AJ Bell, hailed a “fantastic” week for the FTSE 100.
He said: “We’ve hit record levels, even more takeover stock, and everyone is talking about UK stocks in a positive way that hasn’t been seen for a long time.” The variety of sectors rising suggests that investor confidence continues to improve.
The FTSE 250 added 1.1 per cent, or 222.18 points, to 19,824.16.
The Senior engineering firm said revenue rose 7 percent in the first quarter to the end of March.
This included a 12 percent increase in sales from its aerospace division.
The update came a day after the company said it will be paid £104 million to work with Spirit AeroSystems for another five years to supply components for Boeing aircraft. The shares added 0.4 per cent, or 0.6p, to 164.4p. Loungers, the restaurant, bar and cafe operator, posted record sales last year by opening the largest number of new locations.
The company’s revenue rose 24.7 per cent to £353.5m in the 12 months to April 21, while profits should beat market expectations as rising costs eased.
Loungers opened a record 36 sites last year, bringing the total to almost 260. The shares rose 2.2 per cent, or 5p, to 236p.
Green energy company ITM Power has partnered with Hygen to become its preferred supplier of specialist electrolysers used in hydrogen projects in the UK and Europe.
Dennis Schulz, chief executive of the London-listed company, said the partnership should play a “leading role in advancing the green hydrogen economy.”
ITM shares rose 2.2 per cent, or 1.1p, to 51.1p.
