The tech-savvy Nasdaq Composite Index rose 0.8 percent, buoyed by strong earnings from Alphabet, signaling confidence in tech stocks leading the market.
Sundar Pichai emphasized that Alphabet's commitment to AI innovation is driving exceptional growth, with the company's revenues hitting $88.3 billion and profits $26.3 billion.
Alphabet's stock surged nearly 6 percent after reporting third-quarter earnings, with significant contributions from the search and cloud businesses, which are experiencing extraordinary momentum.
Investors are closely watching upcoming earnings reports from other tech giants like Apple and Meta, which also saw stock price increases on the same day.
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