Shares of (NASDAQ: GOOGL) (NASDAQ: GOOG) charged higher Monday, gaining as much as 7.8%. As of 10:49 a.m. ET, the stock was still up 7.1%.

The catalyst that sent the tech giant higher was reporting that the company may have found its first big licensee for its artificial intelligence (AI) services.

Alphabet is reportedly "in active negotiations" with Apple to license Google's Gemini to underpin certain AI-powered features in the iPhone, according to a story first reported by Bloomberg. The company may go so far as to integrate Alphabet's suite of AI tools into the device itself, according to the report, which cited "people familiar with the situation."

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Source Fool.com