
Google (GOOGL) Shares Gain 5% in Response to Gemini AI Announcement
Google shares responded positively to news of Gemini, although the market is unclear about monetization and how it fairs against GPT 4 Turbo.
Google shares responded positively to news of Gemini, although the market is unclear about monetization and how it fairs against GPT 4 Turbo.
Sundar Pichai revealed that the company was planning to use new AI models to automate some customer services.
In addition to the better-than-expected Q2 2023 revenue, Alphabet did better than predicted in its ad profits.
Alphabet posted a less-than-savory Q4 2022 report that reflects the current tech downswing and looming recession.
The GOOGL stock sees its worst daily performance since March 2020 as the company delivers disappointing revenue growth for the third quarter of 2022.
The analyst notes that the GOOGL stock is under pressure due to concerns about a slowing economy that might result in reduced ad spending.
Both Google and ONDC had a couple of meetings regarding the integration.
The company’s executives are optimistic about the growth of some key diverse of its broad platforms.
Google parent Alphabet says its 20-for-1 stock split will take effect from July, and grant an additional 19 shares for each share of the same stock-class owned.
Pichai also spoke on Web3, stating that Alphabet is “definitely looking at blockchain”.
This came after Google dialed back its plans to add bank accounts to its payment app. The company’s ambition to offer financial services has been in the works for years.
Google will also benefit from the deal as it gives the company a hedge in the financial services sector.
Google Play store subscription fee will drop from 30% to 15% from day one, however, developers will have to pay 30% for the first 12 months.
GOOGL stock has gained approximately 80.63%, 63.45%, and 12.30% in the past year, YTD, and three months respectively.
GOOGL stock has gained approximately 86.44%, 55.22%, and 7.55% in the past year, YTD, and five days respectively.