Shares of Google-owned company Alphabet reached their highest trading values since August 2022.. The increase is related to artificial intelligence announcements made at the Google I/O developer event last Wednesday (10).
This Thursday morning (11), Alphabet shares rose nearly 5% This each share was trading at about $118 (R$585). It’s a substantial recovery compared to the drop since the Google Bard presentation in February of this year.
During the Google I/O conference, Most of the panels were devoted to AI feature announcements for big tech products.. These include the use of generative artificial intelligence in the traditional search engine and the launch of the Google Bard chatbot in more than 180 countries.
The search giant has also revealed new tools for Workspace, including the use of artificial intelligence in Gmail, Docs, and Sheets. Moreover, Google Maps and Google Photos gained new functions powered by artificial intelligence.
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The appreciation of Alphabet’s shares indicates that the market is responding well to the innovations in AI that emerged at the event. For analysts, the announcements indicate that big tech continues to be at the forefront of the “AI race” and could yield good returns in the future.
“We continue to move up and see I/O as a return event that will help deepen the upcoming AI debate and close the gap between Google and competitors,” said Morgan Stanley analyst Brian Nowak. CNBC.
Source: Tec Mundo
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