Perplexity's $34.5B Chrome Bid Lifts Alphabet's Stock as $4.05B Trading Volume Ranks 15th Amid Antitrust Uncertainty

On August 12, 2025, Alphabet’s stock rose 1.25% to $203.93, with a trading volume of $4.05 billion, ranking 15th in market activity. The move followed reports that AI startup Perplexity has submitted an unsolicited $34.5 billion cash offer to acquire Google’s Chrome browser. Perplexity, valued at $18 billion, claims several investors have pledged to fund the deal if approved. The bid emerged amid an ongoing antitrust case against Alphabet, where a federal judge ruled in 2024 that Google maintains an illegal monopoly in online search and ordered potential remedies, including a forced sale of Chrome. The U.S. Department of Justice has pushed for divestiture, while Alphabet plans to appeal the ruling.

The potential transaction, if accepted, would grant Perplexity access to Chrome’s 3 billion users and bolster its AI ambitions. However, analysts question the likelihood of success, noting that Alphabet has not indicated willingness to sell and that the offer’s valuation appears low relative to Chrome’s estimated worth. RBC Capital analyst Brad Erickson highlighted that OpenAI, with a valuation over 15 times Perplexity’s, could be a more formidable buyer. The antitrust case remains a key overhang for Alphabet’s stock, alongside uncertainties about AI’s impact on Google’s search advertising revenue. Perplexity, which operates an AI browser called Comet, has previously raised $1 billion from investors like SoftBank and Nvidia.

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