ICYMI: California is now home to 3 of the 4 highest valuation companies in history as Alphabet joins the $3 trillion club
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~ California has solidified its position as the global epicenter of high-tech innovation with the addition of Alphabet Inc. to the $3 trillion club. The California-based holding company, which owns Google and other businesses in technology, life sciences, and innovation, has become just the fourth company in history to reach this extraordinary milestone.

Governor Gavin Newsom celebrated this achievement, stating that "Three of the four highest valuation companies in history call California home." This further cements the Golden State's reputation as a hub for groundbreaking ideas that scale into world-changing enterprises.

As the fourth largest economy in the world, California is a driving force behind the nation's economic growth. The state's technology sector contributed $555 billion to the U.S. economy in 2024 and supported nearly 1.5 million tech workers across 61,500 business establishments. Additionally, California's academic institutions awarded over 25,600 tech-related degrees in 2024 and are home to world-leading AI and quantum programs.

To prepare for the future workforce needs of this rapidly growing industry, Governor Newsom announced a new state partnership with Google, Adobe, IBM, and Microsoft to expand opportunities in generative AI. This initiative will provide over two million students in public high schools and universities across California with the skills they need to lead an AI-ready workforce.

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California is also leading on responsible AI development and deployment with a landmark report authored by world-leading AI academics and experts. This report provides a science-based framework for establishing guardrails that ensure safe, ethical, and beneficial use of AI for all Californians.

In addition to its technological advancements, California's economy is thriving in other sectors as well. Governor Newsom recently signed legislation to provide mortgage relief for homeowners affected by the Los Angeles fires and cut taxes on cannabis to promote long-term success for the legal industry. The state is also investing in affordable housing projects that will create over 2,000 homes for California families.

With its increasing population, record-high tourism spending, and strong economic growth in key regions and sectors, California is not only sustaining the national economy but also driving its future. As Governor Newsom stated, "California feeds the country, and is the nation's top state for new business starts, access to venture capital funding, manufacturing, and agriculture." The state's continued success in these areas solidifies its position as a global leader in innovation and economic strength.

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