Shares of the Google parent were up close to 5% near $172 in recent trading, with JPMorgan’s target suggesting roughly 13% upside. Alphabet shares have lost about 10% so far in 2025.

Consider that in 2025 alone, Meta plans to invest roughly $70 billion in AI initiatives. And Meta is parsimonious relative to Amazon, Alphabet and Microsoft. The other three intend to invest more.