Alphabet gains as Wall Street welcomes AI model Gemini
Dec 7 (Reuters) – Wall Street welcomed the launch of Gemini, saying the company’s new artificial intelligence model could help close the gap in competition with Microsoft-backed OpenAI, and Alphabet (GOOGL) .O) stock closed up 5.3% on Thursday.
Alphabet has long been considered a leader in AI research, but OpenAI’s ChatGPT has taken the tech world by storm since its launch last November, and Microsoft (MSFT.O) It has come into the limelight due to the active deployment of its onboard software.
Now it looks like Gemini is ready to boost his AI powers at Alphabet again.
Google’s parent company said this long-awaited AI system is faster than OpenAI’s latest model and can process different forms of media, including video, audio, and text.
There are three versions, each designed for different processing performance.
“Google is beginning to address investor concerns about generative AI innovation and the high operating costs of GenAI models by combining different model sizes in Gemini,” JP analysts said.
The company increased its market value by more than $80 billion.
This warm reception contrasts with Alphabet’s nearly $100 billion sale in February after its Bard chatbot shared inaccurate information in a promotional video and a corporate event failed to impress.
It was spot on.
“Gemini’s release comes at an interesting time, as he has heard complaints from OpenAI/ChatGPT users about how updates to the GPT family of models have affected the quality of their output,” Macquarie’s the analyst wrote in a memo.
“If Google releases a better model of his GPT-4, it could strengthen support for his Google among users and developers.
” The company added his We’re adding Gemini technology to our Bard chatbot and will be releasing the latest version of Gemini to Bard early next year.
His 6-minute video about this model’s abilities showed that it recognizes skilled magic tricks and allows people to create art by providing ideas based on materials and their colors .
Microsoft’s AI Leader Alphabet has so far lagged behind Microsoft in the race for AI-driven cloud revenue.
In the September quarter, Google Cloud’s growth slowed to its lowest level in nearly three years, fading ahead of Microsoft Azure’s recovery.
To boost sales of AI-based products, Microsoft is targeting large enterprises that already use its software services, while Google is targeting startups that analysts say have cut spending in an uncertain economy.
Targeting companies.
Shares of both companies have risen about 50% this year, part of a broader AI-powered rally in big tech stocks that has accounted for much of the Nasdaq’s rise.
Microsoft currently trades at 30.
68 times his 12-month earnings estimate, compared to parent company Google’s 19.
59 times his.
“Some may criticize Google for being late to the AI party, (but) they want to do it right and clearly think there’s a huge opportunity,” said Mahoney Asset, New Jersey.
Management CEO Ken Mahoney said.
“There are many ways to grow a business, but one of the best ways is to maintain the same customer base by offering more solutions and services.
Source: https://www.reuters.com
