Alphabet’s parent company, Google, is making significant strides in quantum computing and AI, sending its stock soaring. The tech giant unveiled a new quantum computing chip called Willow and Gemini 2.0, described as the company’s most capable AI model by CEO Sundar Pichai.
Google’s recent announcements have intensified its rivalry with Big Tech rivals like Microsoft and OpenAI, which popularized the AI chatbot ChatGPT two years ago. Industry analyst Tim Bajarin notes that Google’s new models may leapfrog their competitors, but competition will continue to drive innovation in the field.
Bajarin praises Willow as “a really big deal” and a significant achievement at this time, but cautions that it may take several years for quantum computers to address real-world challenges. Meanwhile, OpenAI’s momentum with ChatGPT growth has raised concerns about its potential impact on Google’s business. If OpenAI figures out how to sell ads, it could divert budget from Google and challenge the company’s search ad dominance.
Google stock has recently broken above its 50-day moving average and 21-day exponential moving average, with a Relative Strength Rating of 86, up from 41 three months ago. The strong weekly gain is attributed to the tech giant’s product rollouts, which have put it in the spotlight once again.
Source: https://www.investors.com/news/technology/google-stock-googl-alphabet-ai-quantum-chip