Google parent Alphabet lost $100 billion in m-cap after AI Chatbot gives wrong answer

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Google parent Alphabet’s shares fell nearly 8% on Wednesday, wiping out $100 billion in market value after its new artificial intelligence chatbot shared incorrect information in a promotional video.

The stock price has plummeted amid fears that Alphabet Inc. will lose ground to rival Microsoft Corp in the search-engine market, which is Alphabet’s primary source of revenue. On February 7, Google launched the AI-enabled chatbot Bard. Alphabet stock has dropped 30% in the last year, and 15% in the last six months. Despite reporting disappointing earnings in the fourth quarter ended December as advertisers cut spending amid recession concerns, the stock recovered nearly 13% in a month. As part of a cost-cutting measure, the company recently laid off approximately 12,000 workers, one of the largest headcount reductions in the last year.

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Google parent Alphabet lost $100 billion in m-cap after AI Chatbot gives wrong answer

Google parent Alphabet’s shares fell nearly 8% on Wednesday, wiping out $100 billion in market value after its new artificial intelligence chatbot shared incorrect information in a promotional video.

The stock price has plummeted amid fears that Alphabet Inc. will lose ground to rival Microsoft Corp in the search-engine market, which is Alphabet’s primary source of revenue. On February 7, Google launched the AI-enabled chatbot Bard. Alphabet stock has dropped 30% in the last year, and 15% in the last six months. Despite reporting disappointing earnings in the fourth quarter ended December as advertisers cut spending amid recession concerns, the stock recovered nearly 13% in a month. As part of a cost-cutting measure, the company recently laid off approximately 12,000 workers, one of the largest headcount reductions in the last year.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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