This week in tech: Alphabet and Musk get in the AI ring; Coinbase triumphs
By Louis Juricic and Sarina Isaacs
Investing.com — Here is your weekly Pro Recap on the biggest headlines out of tech this week: AI moves from Alphabet and Elon Musk; a Coinbase surge on a court win; and Salesforce's price hike.
InvestingPro subscribers get tech headlines like these in real time. Never miss another market-moving alert.
Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) stock bumped higher Thursday after it said it was rolling out its artificial-intelligence chatbot, Bard, in Europe and Brazil, as the tech giant looks to take the AI fight to rival ChatGPT.
Morgan Stanley said in a note that Google Search, which still makes up the bulk of Alphabet’s revenue, will likely become «more personalized” and develop “critical competitive moats” as the tech giant invests further in AI.
The analyst also said Alphabet remains „in the best position to disrupt/improve its own business“ via AI, noting:
It is still early in AI adoption, and it will likely require new innovation and tools to further accelerate adoption. This, in our view, should help GOOGL manage the user and behavior transition and minimize near-term impacts on revenue and monetization.
GOOGL shares climbed more than 6% for the week to $125.42.
Elon Musk got in the AI battle as well with the launch of his xAI artificial intelligence outfit Wednesday.
Musk has repeatedly issued warnings regarding AI in the past, and signed a letter in March that called the scramble for AI dominance „an out-of-control race to develop and deploy ever more powerful digital minds that no one — not even their creators — can understand, predict, or reliably control.“
Musk said his plan for building safer AI includes rendering it „maximally curious“ instead of attempting to program in
Read more on investing.com
