Well-fisheried bank has raised its price target on Alphabet to $397 from $387, suggesting a 41% increase from the close of Thursday's close. The bank highlighted Google's position as a frontrunner in the artificial intelligence race, citing its industry-leading capacity to support internal efforts (Search, Gemini) and monetize externally through GCP, as well as its broad distribution network and vast consumer data. The company has made several moves to become a significant player in the AI industry, including the acquisition of cloud security firm Wiz. The analyst predicts that Google's Tensor Processing Units (TPUs) will bring more than a gigawatt of AI compute capacity online this year and result in revenue increases from GCP and operational intelligence revenue increases in 2026.