Alphabet is about to surpass Nvidia as the world’s most valuable company. How did we get here?

Here’s a good history lesson: No matter how dominant something may seem, there’s always a challenger coming for the throne.

Just ask Yahoo, which probably thought it had web search on lock before being unceremoniously replaced by Google. Or maybe Blockbuster, which ignored upstart Netflix at its own peril, and was eventually wiped out entirely.

And there’s always ExxonMobil, which was dethroned by Apple as the world’s most valuable company in 2011, marking the stock market’s shift towards mega-cap tech.

Today, you’d be forgiven for assuming Nvidia — which surged past Microsoft and Apple in recent years to become the most valuable company — has an iron-clad grasp on the top spot. The company is constantly inking partnerships to accelerate AI growth, and — most importantly — everyone desperately needs the chips it makes.

But Alphabet has emerged as a viable candidate to replace Nvidia as the market’s top dog. Let’s run down the reasons:

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