Alphabet (GOOGL) is one step closer to acquiring cloud security company Wiz for $32 billion, after the US Government gave the Google developer a green light. Wiz CEO Assaf Rappaport confirmed on Tuesday that the acquisition had cleared its antitrust review by the U.S. Department of Justice.

Google initially approached Wiz in 2024 with an offer to buy the startup for $23 billion, to which the latter declined. Rappaport insisted that the startup had a bright future and was worth more, which appears to be the case with the upped valuation. Google announced it was buying Wiz for $32 billion in March, although the final purchase was halted by an antitrust ruling by the US DOJ. Per Reuters, the deal is expected to close in early 2026 now that the US government has closed the investigation.

The purchase will help Alphabet (GOOGL) better compete with both Microsoft (MSFT) and Amazon (AMZN) in the surging cloud computing space. Moreover, Wiz announced it will keep its products available to other cloud platforms.

Furthermore, GOOGL stock also rallied on Wednesday after a report revealed Apple (AAPL) plans to use a 1.2 trillion-parameter Google AI model to power its upcoming Siri overhaul. The tech giant is finalizing an agreement that would see Apple pay approximately $1 billion annually for access to Google’s advanced AI technology, according to sources close to the deal.

Currently, Alphabet (GOOGL) stock is trading at $284 and is up 15% over the last month. Moreover, experts appear sold on the future gains that await the stock. 85% of the 73 surveyed analysts have a buy rating on the stock, according to CNN. Moreover, it has a median price target of $330, up 16% from its current position.