Today someone asked me if they could hyperlink parts of the text within a cell in Google Sheets and I responded with no. Literally minutes later I was editing a spreadsheet cell that happened to have a hyperlink in the cell and all of a sudden the link became live. I think my eyes literally bugged out of my head (okay that is the opposite of the definition of literally, it was figuratively). THIS IS VERY EXCITING! (Remember, new features always roll out meaning they may not be available to you for up to 2 weeks).
Hyperlink Text Within the Cell
While typing in a cell in Google Sheets if you type a web address, even without the http:// and press space after the last character it will hyperlink. However, not ALL the text, just the web address.
You can also highlight portions of text within the cell and use Control K to hyperlink just the selection within the cell.