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Summary
Alphabet (GOOGL) rose 1.34% to $324.89 on October 28, 2026, beating the Nasdaq by 1.07 percentage points on volume 151.22% above average.
Investing.com tied the gain to a media report that OpenAI plans to buy Google's Tensor Processing Units, a plan neither company has announced.
After the close, Alphabet reported 103% Google Cloud growth but EPS of $2.12, below expectations of about $3 per The Telegraph, and shares fell in after-hours trading.
Gotrade News - In the latest Google stock news, Alphabet (GOOGL) closed at $324.89 on Wednesday, October 28, 2026, up $4.31 (+1.34%), as Google stock climbed in the regular session hours before the company's third-quarter results. Financial media tied the gain to a report that OpenAI plans to buy Google's AI chips, while the results released after the bell paired 103% cloud growth with a profit shortfall.
GOOGL Trading Data
Data
Value
Closing price
$324.89
Change
+$4.31 (+1.34%)
Previous close
$320.58
Open
$323.77
Day range
$322.66 to $326.41
Volume
63.1 million shares
30-day average volume
25.1 million shares
52-week range
$267.67 to $408.61
Regular-session close on Wednesday, October 28, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since October 29, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Alphabet opened at $323.77, above the prior close, and held a narrow intraday band before finishing $2.23 above the session low. Trading was heavy, with volume running 151.22% above its average.
The move outpaced the broader market. The Nasdaq Composite rose 0.27% to 26,549.85, putting GOOGL 1.07 percentage points ahead of the index, while the S&P 500 gained 0.28% to 7,743.98 and the Dow Jones Industrial Average added 0.19% to 52,475.10. The US 10-year Treasury yield rose 5.2 basis points to 5.05%.
Nvidia (NVDA) fell 1.17%, and Microsoft (MSFT) slipped 0.06%. Even with Wednesday's gain, GOOGL sits 20.49% below its 52-week high of $408.61 and 21.38% above its 52-week low of $267.67.
Financial media tied the session's gain to OpenAI's chip plans. According to Investing.com, The Information reported, citing a person familiar with the matter, that OpenAI plans to buy Google's Tensor Processing Units (TPUs) outright, and Alphabet shares traded more than 1% higher before Wednesday's open.
Investing.com noted that OpenAI began renting Google's TPUs in June 2025, per Reuters, so a purchase would mark a longer-term commitment. The outlet also cited Chief Financial Officer Anat Ashkenazi as saying Alphabet expects to recognize a small share of TPU sales revenue by the end of 2026, with the vast majority in 2027.
Alphabet's quarterly earnings report arrived after the close, so it did not drive Wednesday's session. According to the company's third-quarter 2026 release, revenue rose 25% to $127.6 billion, Google Cloud revenue jumped 103% to $30.7 billion and operating income grew 30% to $40.6 billion. Diluted earnings per share came to $2.12, after an $8.7 billion loss on equity securities reduced EPS by $0.55.
"Google Cloud revenues grew 103%, powered by huge demand for our AI infrastructure and AI solutions," Chief Executive Officer Sundar Pichai said in the release.
As reported by The Telegraph, that profit figure fell short of expectations of about $3 per share, and Alphabet shares fell in after-hours trading amid fears of AI overspending. The release showed capital expenditures of $51.4 billion in the quarter and free cash flow of negative $9.1 billion.
GOOGL Stock Analysis: Supporting Factors and Risks
Supporting Factors
Google Cloud revenue grew 103% to $30.7 billion, and according to Pichai the company is seeing strong demand for its TPU systems across a wide range of customers.
Operating income rose 30% to $40.6 billion on 25% revenue growth, and the release attributes $0.55 of the EPS hit to the loss on equity securities.
OpenAI said last week it would offer its frontier models through Google Cloud, per Investing.com.
Risks
Diluted EPS of $2.12 missed expectations of about $3, per The Telegraph, and shares fell in after-hours trading.
Capital expenditures reached $51.4 billion in the quarter, and The Telegraph reported this was the second straight quarter of negative free cash flow, the first since Alphabet listed more than 20 years ago.
The OpenAI plan rests on a media report, most TPU sales revenue is expected in 2027, and Investing.com noted that Nvidia's scale advantage remains substantial.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
