Many people are concerned about an artificial intelligence (AI) bubble. We can debate all day whether there is or not. There are good points on both sides of that argument. But even if a bubble were to pop, that doesn’t mean AI stocks will go to zero; much like the dot-com crash for the internet, the technology is simply over.
There are many AI companies that are not only likely to survive a potential bubble burst, but also likely to grow regardless of broader market conditions, potentially making you a billionaire in the process.
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And the company I want to talk about in this article is probably the most promising AI stock on the market right now. I’m sure you’ve heard of it at least once.
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alphabet(NASDAQ:GOOG)Google’s parent company is a veteran of the dot-com bust and has weathered the storm to emerge as the world’s search engine of choice. When was the last time you heard someone mention Ask Jeeves? That’s right.
Alphabet is now becoming a standout among other large technology companies in the AI space. The company’s flagship generative AI product, Google Gemini, is rapidly gaining market share in the enterprise large-scale language model (LLM) space.
Menlo Ventures reports that the company controls 21% of the market and is rising, while ChatGPT holds a 27% market share but is falling. I wouldn’t be surprised at all if Gemini overtook ChatGPT this year.
Anthropic’s Claude LLM controls 40% of the market, but even there it’s benefiting Alphabet as Anthropic expands its use of Alphabet’s tensor processing units (TPUs).
TPU jointly developed with broadcom is one of the few competitors Nvidiagraphics processing unit (GPU). This has given Alphabet a presence on both the hardware and software sides of the AI industry.
But Google’s main advantage over its competitors is its massive scale and the resources it has to devote to AI development.
Alphabet’s revenue in 2025 was $402.8 billion, a 15% increase over 2024. Operating income for the year was close to $130 billion, giving the company an operating margin of 32%. Earnings per share (EPS) jumped an incredible 34% compared to 2025 to $10.81.
But Wall Street was understandably concerned about the latest results. Alphabet expects capital expenditures (capex) to be between $175 billion and $185 billion in 2026, significantly higher than analysts expected. The reason is simple. Data centers are not cheap to build or maintain.
But if anyone can build massive numbers of data centers without breaking the bank, it’s Alphabet. Although the company increased its data center capacity in 2025, it still managed to increase its cash reserves by 30% to $30.7 billion.
And to further fund its AI efforts, Alphabet is issuing a very old-fashioned investment in the form of a 100-year bond.
Only a handful of companies and countries issue bonds with such long maturities. disney and coca cola I have both. Argentina, Austria, and Mexico also publish it. Some bonds by the Dutch city of Utrecht are 400 years old and are still paying interest.
Alphabet’s goal is to raise $20 billion through bond sales, including some, but not all, 100-year notes. However, even with the previous $2.5 billion bond sale in November 2025, Alphabet’s long-term debt would be $46.5 billion, for a total debt of $180 billion.
Total current assets are $206 billion, of which cash reserves are $30 billion. So we’re not particularly concerned about Alphabet taking on more debt or its ability to continue paying its current debt.
That’s especially true given Alphabet’s enormous profitability and continued explosive growth. Gemini is just getting started and should grow into an even bigger revenue stream for Alphabet than it already is. The company’s CEO Sundar Pichai noted that Gemini’s monthly active users increased by 100 million quarter-on-quarter in Q4 2025, reaching a total of 750 million.
You should also consider that Alphabet is one of the world’s leading advertisers, with ad revenue increasing 13.5% to $82.28 billion in the latest quarter. As a result, our revenue streams are diverse and growing rapidly.
In other words, Alphabet’s large investments are already generating high returns, so very large investments are not as risky as they may sound at first glance. Especially not for a company of that size and with access to vast resources.
Alphabet has the resources to dominate the AI industry. Neither OpenAI nor Anthropic have yet achieved profitability, let alone the financial strength to confidently sell $20 billion in bonds. And with its diversified revenue streams, Alphabet is both a bet on AI and a hedge against a potential AI bubble.
If you want to play AI but don’t want to take too many risks, give it a try.
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James Hires holds a position at Alphabet. The Motley Fool has positions in and recommends Alphabet, Nvidia, and Walt Disney. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.
The post Artificial Intelligence (AI) Stocks That Can Make You a Millionaire was first published by The Motley Fool.
