Alphabet stock plummets after AI chatbot goes haywire
Google parent company Alphabet has provided an answer to Microsoft and ChatGPT with its AI software “Google Bard”. But artificial intelligence obviously disappoints many investors. Because the Alphabet shares lost almost nine percent in value. This is apparently also related to a glitch in the AI chatbot.
Artificial intelligence has arrived on the stock exchange – at least as far as prices are concerned. Because at least since Microsoft invested in the AI company OpenAI, the shares of the US group have been rising. This has mainly to do with the artificial intelligence ChatGPT.
Microsoft recently integrated a new variant of the chatbot into its Bing search engine. It is said to be even more powerful than ChatGPT. Apparently, this raises hopes both on the stock exchange and at Microsoft itself of breaking Google’s dominance.
Microsoft vs. Google: Artificial intelligence has arrived on the stock exchange
Google parent company Alphabet has meanwhile responded to the ChatGPT hype with its own AI: Google Bard. The company intends to make the software “available to a broader public” in the near future. Google also recently invested in AI startup Anthropic.
A real AI competition broke out between Microsoft and Google. But in contrast to Microsoft, Google now had to accept a significant setback – and only shortly after the presentation of its AI software. Because the shares of parent company Alphabet fell by almost nine percent during regular trading on Wednesday, February 8, 2023 a.
Alphabet stocks plummet as AI chatbot ‘Google Bard’ goesofs up
As a result, Alphabet shares have lost around 100 billion US dollars in value in the meantime. According to a news agency report Reuters is that on the one hand a direct reaction to the disappointing presentation of Google Bard.
On the other hand, the agency discovered an error in Google’s advertising for the chatbot, which had an additional negative impact on Alphabet’s share price.
According to this, the AI is asked in the advertisement which new findings from the James Webb Space Telescope could be interesting for a nine-year-old child. Google Bard then provides some answers. Among other things, that the telescope took the first pictures of a planet outside our solar system.
However, as Reuters reports, that is incorrect. Because the European Very Large Telescope recorded the first photo of a so-called exoplanet in 2004.
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