Alphabet's shares increased by 4% as investors responded favorably to the company's artificial intelligence breakthroughs, particularly the release of 'AI Mode' for U.S. users. The announcement of a subscription service for AI enthusiasts also addressed worries about funding AI development costs. Analysts suggest that the AI advancements could enhance Google's ability to generate ad revenues. CEO Sundar Pichai reassured investors that generative AI will not completely replace traditional search methods, indicating a balance between new technologies and established services.
Citi analyst Ronald Josey expressed enhanced confidence that Google can sustain search growth and improve monetization following the rollout of its AI updates in the U.S.
CEO Sundar Pichai reassured stakeholders that the emergence of generative AI won't significantly diminish online search engagement, alleviating prior concerns over user behavioral shifts.
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