@Shyon：
From my point of view, this market cap flip between Alphabet $Alphabet(GOOGL)$ and Apple $Apple(AAPL)$ is more than just a short-term sentiment swing. It reflects how investors are increasingly pricing in AI execution, not just brand strength or ecosystem lock-in. Alphabet has made AI central to its business model across search, cloud, and enterprise productivity, and the market is starting to reward that clarity and speed. What stands out to me is that Google's AI push is not a single-product story. It's embedded into revenue-generating engines—search monetization, cloud workloads, and developer tools—where AI can directly i