Shares of Google parent (NASDAQ: GOOG) (NASDAQ: GOOGL) surged 35.5% in 2024, according to data from S&P Global Market Intelligence. Alphabet entered 2024 under a cloud of skepticism regarding its competitiveness in the artificial intelligence (AI) races and amid pressure from antitrust authorities.

While those headwinds didn't go away -- they actually intensified -- Alphabet executed impressively against them, both technologically and financially. These positives outweighed the negatives, leading to a strong year of gains.

Alphabet has a number of segments, but all are fairly dependent on AI technology. Given the rapid rise in AI competition from incumbents and start-ups alike, Alphabet entered 2024 besieged on all fronts. Yet, the company executed impressively against these challenges.

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Source Fool.com