Alphabet shares rose 9.14% on Wednesday as investors viewed the result of Google's antitrust case as broadly favorable to the tech giant.
Wednesday's gain added $234 billion to the company's market cap. Apple closed 3.81% higher, adding $130 billion to its cap.
The U.S. Department of Justice had proposed a sort of breakup of Google, which included divesting its Chrome browser, in an antitrust case that began in September 2023.
While Google was found to hold an illegal monopoly in its core market of internet search last year, U.S. District Judge Amit Mehta ruled against the most severe consequences that were proposed by the DOJ.
Google will not have to divest Chrome. The company can also still make payments to companies to preload products, but it cannot have exclusive contracts that condition payments or licensing.
That means Google will still be able to pay Apple the billions of dollars it does to be the default search engine on iPhones.