Advertising and tech giant (NASDAQ: GOOG) (NASDAQ: GOOGL) has rallied Wall Street this year, with its stock up about 52% since Jan. 1. Along with the likes of Nvidia, Amazon, and Microsoft, Alphabet has joined the current boom in artificial intelligence (AI) and has solid prospects in the sector.
The company started 2023 with the launch of Bard, an AI chatbot similar to OpenAI's ChatGPT. The platform initially disappointed, with a rushed release leading to a flawed debut. However, Alphabet appears to have learned and has slightly pulled back, using the rest of the year to develop the highly anticipated large language model Gemini, which will be released in 2024.
The new model is expected to be competitive with OpenAI's GPT-4 and could open the door to countless growth opportunities for Alphabet.
Source Fool.com