A major shift could soon happen in the Mag 7

quietly, alphabet is closing in on nvidia. shares surged 10% on thursday after earnings, pushing the market cap past $4.6 trillion. google cloud revenue crossed $20 billion. the 1-year gain is now 140%. nvidia, meanwhile, sits under $4.9 trillion. it dropped 6% in two days after the wall street journal reported that openai missed internal revenue and growth estimates. nvidia reports on may 20, but it's fallen after four of its last five earnings. options markets give alphabet a 53% chance of touching nvidia's current market cap by may 15. that would take another 4% rally to roughly $401 per share. the odds alphabet closes above $400 on may 22 — the friday after nvidia's report — are about 30%. the last time alphabet was the world's most valuable company was 2016, when it briefly topped apple.