Alphabet’s stock rose by 5% on Thursday with the launch of Gemini, a new artificial intelligence model. Wall Street sees Gemini as a contender in the race against Microsoft-backed OpenAI, which gained attention with ChatGPT last year. Alphabet claims Gemini is faster than OpenAI’s latest model and can process various media types. The release addresses investor concerns about generative AI innovation and high GenAI model costs. Analysts suggest Gemini could add nearly $80 billion to Alphabet’s market value.
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