Why Alphabet Stock Cranked Higher Today
Although (NASDAQ: GOOG)(NASDAQ: GOOGL) is currently undergoing a tough antitrust case, investors pushed the prices of its two share classes higher on the second trading day of the week. Many were cheered by the prospect of a top name in artificial intelligence (AI) potentially buying one of the company's more high-profile assets. This could be a neat way out of its current legal bind. On the day, Alphabet's stock price rose by almost 3%.
During Tuesday's session of the antitrust court case, a key executive at that AI business, leading developer OpenAI, stated that his company could buy the Chrome browser. Chrome is a popular free product developed by Alphabet's core Google unit.
Nick Turley, the head of product of OpenAI's high-profile ChatGPT service, made the remarks while testifying at the Alphabet trial. The Department of Justice (DoJ) brought the suit, accusing the tech industry titan of engaging in anti-competitive practices with its foundational search business.
Source Fool.com
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