Why Alphabet Stock Climbed Today
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) rose more than 4% on Thursday, furthering the rally in the tech titan's stock price that began earlier this week. Investors are bidding up Alphabet's shares following its recent moves in the rapidly expanding artificial intelligence (AI) arena.
On Tuesday, Alphabet announced a partnership with AI start-up Midjourney. Google Cloud will serve as Midjourney's preferred cloud infrastructure provider. Midjourney will use Google's cloud computing services and custom-designed chips to train the AI models that power its popular text-to-image applications.
"As AI opens the door for innovation across industries, companies like Midjourney are choosing Google Cloud to take advantage of our open, flexible, and performant infrastructure, which runs with incredible scale and efficiency," Google Cloud executive Amin Vahdat said in a press release.
Source Fool.com
