At 1:00 a.m. Beijing time on May 20, 2026, the Google I/O 2026 Developer Conference will officially open in California. This conference focuses on AI technology upgrading and commercial landing, attracting widespread attention from the global technology community and capital market. On the eve of the conference, Alphabet (Google’s parent company)’s stock performed strongly, hitting a 52-week high of $406.29 intraday on May 18, with a cumulative increase of 140% in the past year. The core driving force behind the soaring stock price is the explosive growth of Google’s AI business and large-scale capital investment. The company has raised its 2026 capital expenditure guidance, focusing on AI model R&D and computing infrastructure construction. This I/O conference will focus on demonstrating core achievements such as Gemini model upgrades, AI agent technology and intelligent shopping. The market is full of expectations for the commercial landing of its AI technology. Many institutions including Bank of America have reaffirmed their “buy” rating on Alphabet, further boosting market confidence.