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Google Saw An Increase In The Value Of Its Share After It Announced Gemini AI

News BY Soumava Dec 12, 2023
Google shares pop 5% after company announces Gemini AI model

On Thursday, Google’s shares jumped 5% after it announced The Gemini, which is its latest artificial intelligence model. The Gemini will likely compete with AI products of OpenAI, Microsoft, and Meta.

As per the claims of Google executives, this new AI model outperforms OpenAI’s GPT 3.5. However, the tech supergiant did not share how the Gemini AI performs as compared to the GPT 4 model of OpenAI.

Google’s progress in the world of AI encouraged many stock market analysts. However, there are still more questions about the company’s ability to monetize the technology in the long term. Hence, the best way forward for most analysts and investors is to wait for the launch of the AI model and look for people’s experience with Gemini AI’s features.

On the other hand, many analysts expressed concerns that Alphabet (Google’s parent company) has been under pressure in regard to its AI capabilities. Therefore, there is a need for a “well-branded” competitive model, as it will be advantageous for the search activities of consumers. This will also be beneficial for Cloud enterprise sales.

The analysts also wrote –

Today’s announcements suggest that Gemini is still making its way into core products like Search, so we would advise patience in inferring impact to estimates. […] While we believe 2024 will be more about results than headlines, we also believe it is still early innings in changing advertiser, consumer, developer, and enterprise behaviors.”

However, it is still not clear whether Google will plan to monetize Gemini through all its products in the long term. Nevertheless, as per reports, Google will start licensing The Gemini AI to customers through the Google Cloud platform by the end of this month.

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A passionate writer and an avid reader, Soumava is academically inclined and loves writing on topics requiring deep research. Having 3+ years of experience, Soumava also loves writing blogs in other domains, including digital marketing, business, technology, travel, and sports.

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