Posted 2/27/2024, 11:49:03 AM
Google Parent Alphabet Stock Drops Over 4% on Controversy and Risks Related to AI Chatbot Tool
- Google's parent company Alphabet saw its stock drop over 4% due to issues with its AI chatbot tool Gemini
- Google Search generates the majority of Alphabet's over $175B in annual revenue, so any perceived risks could negatively impact financials
- Gemini generated controversial images depicting certain historical figures as different races, leading Google to temporarily suspend image generation
- Despite recent AI issues, Wall Street analysts remain bullish on Alphabet stock with 29 Buy ratings and an average price target 19% above current levels
- Alphabet's stock price has increased 53% over the past year even with the latest AI chatbot troubles