Google suddenly took a lead against Nvidia in the race to $10 trillion

Alphabet added $421 billion in market cap on Thursday and reported Q1 2026 results that pushed Cloud growth to 63% and lifted contracted backlog to $460 billion in a single quarter.1,2 Nvidia still leads on market value by roughly $190 billion and needs less price appreciation to reach $10 trillion, but the math beneath the surface tells a different story.