Google's parent company Alphabet could soon reach a market capitalization of $2 trillion thanks to innovations in generative artificial intelligence. The tech giant's stock was the market's headline performer on Thursday, with Alphabet Class A and Alphabet Class C shares rising 1.8% and 1.7%, respectively, to new 52-week highs.
Alphabet stock is up more than 15% since the beginning of the year and more than 51% in the past 12 months. The company's market capitalization stood at $1.99 trillion as of Thursday afternoon.
Earlier this week, Google announced its latest cloud and artificial intelligence innovations, including: New AI chip to compete with semiconductor giant Nvidia and Arm-based CPUs to compete with Microsoft and Amazon.
The tech giant's latest AI chip, Cloud TPU v5p, First announced in December, on the same day as the AI ​​chatbot Gemini. The new He TPU (Tensor Processing Unit) can train so-called large-scale language models almost three times faster than Google's previous He TPU v4, the company says. Large-scale language models (LLMs) power AI chatbots like ChatGPT.
“Now in the fifth generation, these advances [to Google’s TPUs] Google CEO Sundar Pichai said this at the company's annual Google Cloud Next conference in Las Vegas on Tuesday.
Google's announcement was the latest salvo in the world. Big Tech’s AI arms race.
Nvidia is a leading supplier of AI chips known as GPUs (graphics processing units).And Google's parent company Alphabet One of Nvidia's biggest customers, is behind Microsoft and Facebook's parent company Meta.Everyone is increasing Develop your own AI hardware to reduce dependence on Nvidia.
-Laura Bratton contributed article.