Alphabet Shares Rise 2.8 % After Two-Day 6.5 % Drop on AI-Chip Report

Alphabet shares rose 2.8% to above $356 on Monday, July 20, 2026, reversing a 6.5% decline over the prior two trading sessions. The gain followed a report that the company is developing an internally named “Frozen v2” AI chip expected to be up to 10 times more energy-efficient than its predecessor.

Alphabet plans to deploy the chip by 2028 to ease a shortage of AI computing power that has forced Google Cloud to turn away customers.

Larry Page’s net worth increased by $8 billion to $292.4 billion, while Sergey Brin’s rose by $7.4 billion to $269.7 billion. Page ranks second among individuals tracked by Forbes, behind Elon Musk at $781.2 billion and ahead of Brin. The cofounders hold a combined 87.9% of Alphabet’s Class B shares.

Alphabet is scheduled to report second-quarter earnings after market close on Wednesday. FactSet estimates project revenue of $117.1 billion, up 21% from a year earlier, and earnings per share of $2.90, a 25% increase. Quarterly spending is projected at roughly $45 billion, while Google Cloud revenue is expected to reach $22.4 billion, a 65% year-over-year gain.

Alphabet stock has risen 87.5% over the 12 months ending July 20, 2026, including a 13% gain year-to-date. Page’s net worth stood just under $51 billion in 2020 and exceeded $144 billion by the start of 2025. Brin’s net worth grew from $49 billion in 2020 to $138 billion by early 2025.

Brin donated $700 million of Alphabet and Tesla stock to nonprofit groups and Parkinson’s disease research in 2025. Page last disclosed selling Alphabet shares in 2022. Alphabet did not respond to a request for comment.