From Nasdaq: 2024-06-05 11:58:00

Alphabet’s GOOGL shares have surged 24.4% this year, outperforming the Internet Services industry. Google is enhancing its generative AI capabilities with Gemini, introducing Spotify integration for enhanced music streaming. Recent YouTube Music Gemini Extension allows music search and radio play through an AI chatbot, boosting Alphabet’s presence in the music streaming space.

Alphabet is well-positioned to benefit from the growing generative AI market, estimated to reach $67.2 billion in 2024 and $967.7 by 2032, with a CAGR of 39.6%. Recent upgrades include Gemini Pro on Android Studio for coding assistance and LearnLM models for conversational tutoring. Enhancements like Gemma 2 and PaliGemma also strengthen Alphabet’s generative AI offerings.

Alphabet faces stiff competition from Microsoft’s Microsoft Azure and Amazon’s AWS in the generative AI space. Microsoft integrates GPT-4 into Bing and Edge, while Azure OpenAI Service offers LLM and generative AI functionalities for retailers. Amazon’s Amazon Bedrock provides access to AI models through an API and partners with NVIDIA for improved GPU platforms on AWS.



Read more at Nasdaq: Alphabet’s (GOOGL) Google Rides on Gemini in Generative AI Game