Why Alphabet Stock Rallied Monday Morning
Shares of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) turned higher Monday, gaining as much as 2.1%. As of 1:59 p.m. ET, the stock was still up 1.2%.
The catalyst that sent the tech giant higher was an analyst report that suggested that, for now at least, its search market share was secure.
In late January, Microsoft (NASDAQ: MSFT) confirmed a "multiyear, multibillion-dollar investment" in ChatGPT-creator artificial intelligence (AI) start-up OpenAI. In February, the company went even further, saying it was infusing the AI-infused chatbot into its Bing search engine. At the time, some market watchers suggested this might be just the boost Bing needed to challenge Google's dominant search -- but it appears those prognostications were a bit too optimistic.
Source Fool.com
