Alphabet Needs to Show Path to AI Sales in Race With Microsoft
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Alphabet Inc. just got a reminder of how important the perception of having a winning AI strategy is for investors.The Google owner added $87 billion in market value in a single day last week after showing off the capabilities of its Gemini large language model, which it claims can rival OpenAI's ChatGPT. To sustain those gains, tech “The whole business model depends on getting this right,” said Gene Munster, co-founder and managing partner at Deepwater Asset Management, whose firm holds the stock. “If they can nail multi-modal generative AI, that will draw usage to Google, and that increased usage will protect and grow the search business.” Shares of Alphabet rose 0.5% on Thursday.Alphabet has been dogged all year by concerns it has fallen behind Microsoft Corp. in the AI race. ...