alphabetThe company's stock is reportedly headed for a $2 trillion market cap, boosted by investor optimism about the company's strategy in the field of artificial intelligence (AI).
Reaching the $2 trillion milestone would be a record for the tech company and one of only three U.S. companies to have already surpassed its market value. microsoft, apple and Nvidia,Bloomberg report Thursday (April 10).
Alphabet's stock price has risen 12% this year, after falling in March amid investor concerns that the company was falling behind in AI, the report said.
The company has experienced some setbacks with its consumer-facing AI tools and its strategy for monetizing AI is unclear, but it showcased enterprise-focused AI models at an event this week and investors are excited about the We see growth opportunities in the company's role in AI products, the report said.
At this week's cloud computing conference, Alphabet showed off the capabilities of its Gemini AI product for advertising, cybersecurity, short videos, and podcasts, according to reports.Additionally, owned by Alphabet Google It announced a chip designed for AI.
Alphabet stock is also benefiting from reports that Apple is considering using Gemini for power supply. AI service According to the report, for that device.
Google announces many new features AI-powered features Tuesday (April 9) during the keynote speech at the annual event Cloud Next.
These include Google Vids, an addition to Google Workspace that allows users to collaboratively create and edit videos using AI-powered features, and Google Vids, an addition to Google Workspace designed to rival GitHub's Copilot Enterprise. Gemini Code Assist, an enterprise-grade AI code completion tool, was included.
Announcements of these and other business-centric AI updates to Google Workspace AI software PYMNTS reported Wednesday (April 10) that leveraging B2B applications is a top priority for companies looking to modernize their workflows.
Google's goal for enterprise AI products is not just to streamline tasks, but to automate processes.
“These…advances allow businesses to do things today that weren’t possible with AI before,” Google CEO Sundar Pichai Said during the Cloud Next event.