Alphabet Inc saw a surge in shares on Thursday as the company's Gemini AI model was released, allaying worries about its standing in the fiercely competitive artificial intelligence market, said Bloomberg in its report. With a 5.3% gain, the stock saw its largest one-day percentage gain since July. The surge increased the market capitalisation of the stock by more than $87 billion. In contrast, Microsoft's results were viewed favourably given the strong demand for AI, according to the report. The stock of Advanced Micro Devices Inc., which this week unveiled a new line of AI chips, has almost doubled in value.
Source: Mint December 08, 2023 15:31 UTC