GOOGL: Alphabet Stock Pops 5% as Google Unveils AI Model Gemini to Take on ChatGPT

The search giant announced its most advanced artificial intelligence system while internal conflicts stir ChatGPT parent OpenAI.

• Alphabet stock GOOGL jumped 5.3% on Thursday after the tech firm swooped back in the AI race with its most advanced artificial intelligence system Gemini. Part of Google’s AI toolkit, Gemini is an algorithm that vastly improves the capabilities of Google’s AI bot Bard. If you ask the Google guys, they’ll tell you this new system is superior to OpenAI’s ChatGPT.
• Gemini was unveiled yesterday, but it won’t be available for wide use until early next year. Right now, Bard boasts some limited features of the new AI model. The release comes on the heels of a corporate governance shakeup at OpenAI, which ousted its co-founder Sam Altman but then brought him back after a broad AI community uproar.
• “I believe the transition we are seeing right now with AI will be the most profound in our lifetimes,” said Sundar Pichai, Google and Alphabet CEO. The company has been struggling to catch up in the AI race after its underwhelming launch of Bard. Still, shares of Alphabet are up more than 53% on the year.