Alphabet (GOOG, GOOGLE) actions climb to a record level after Google announced its latest AI modelGemini 2.0. The update comes after Google unveiled a new quantum computing chip, Willow, which sent the stock higher. Seaport Research Partners Principal Analyst Aaron Kessler Joins Julie Hyman And Josh Lipton on market domination to analyze news and stock developments.
“I think it shows that Google continues to be the leader in AI services. Obviously, Google has been investing in AI for several years now, and it was one of the early leaders. Obviously, I think there were concerns that OpenAI might blow Google into this in terms of ChatGPT, but I think Google has had a good rebound here with tools like Gemini.
The analyst says “this is likely due to several factors” pushing the stock to record highs, including Gemini 2.0. and the announcement of the quantum computing chip, as well as General Motors (General manager) stop your robotaxi uniteliminating a potential competitor to that of Alphabet Waymo.
He adds: “Maybe investors are saying, with the new administration coming less likely, perhaps, we see action from the DOJ in terms of really separate Google and Chromewhich seems quite improbable to us. »
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This article was written by Naomi Buchanan.