- Google shares jumped Thursday, a day after the company announced its latest artificial intelligence model called Gemini.
- Google executives said Gemini outperforms OpenAI’s GPT-3.5, but the company did not share how it compares with OpenAI’s latest model, GPT-4.
- Analysts are encouraged by Google’s progress in AI, but questions remain about how the company will monetize the technology in the long term.
Shares of Google closed up 5% Thursday, a day after the company announced its latest artificial intelligence model called Gemini that will compete with products from OpenAI, Microsoft and Meta.
The stock is on pace for its best day since Aug. 29. Wells Fargo’s trading desk said the announcement “should be enough to quiet down the ‘where is GOOG on AI’ chatter” and that Gemini “is clearly causing a pre-mkt bid to GOOGL this morning as sell side notes read positive.”
But Wells Fargo’s trading desk also said the big question is what Google’s monetization for Gemini looks like. “In short, I’d summarize GOOG as proving that they sti