AI powers Google as it aims for $2 trillion market cap

Photo: Sundar Pichai, CEO of Google and Alphabet, speaks at the inauguration of a new French hub dedicated to the field of artificial intelligence (AI) at Google's French headquarters in Paris, France, February 15, 2024. REUTERS/Gonzalo Fuentes (Reuters)

Google's parent company Alphabet could soon reach a market capitalization of $2 trillion thanks to innovations in generative artificial intelligence. Big tech stocks were the market's main performers on Thursday, with Alphabet Class A and Alphabet Class C shares up 1.8% and 1.7%, respectively, hitting new 52-week highs.

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Alphabet stock is up more than 15% since the beginning of the year and more than 51% in the past 12 months. As of Thursday afternoon, the company's market capitalization stood at $1.99 trillion.

Google announced its latest innovations in cloud and artificial intelligence earlier this week, including a new AI chip to compete with semiconductor giant Nvidia and an Arm-based CPU to compete with Microsoft and Amazon.

The tech giant's latest AI chip, the Cloud TPU v5p, was first announced in December, the same time as the AI ​​chatbot Gemini. The company says its new TPU (Tensor Processing Unit) can train so-called large-scale language models almost three times faster than the previous Google TPU v4. Large-scale language models (LLMs) power AI chatbots like ChatGPT.

Now in its fifth generation, these advances [to Googles TPUs] Google CEO Sundar Pichai said at the company's annual Google Cloud Next conference in Las Vegas on Tuesday that Google has helped customers train and deliver cutting-edge language models. Ta.

Google's announcement is the latest salvo in Big Tech's AI arms race.

Nvidia is a major supplier of AI chips known as GPUs (graphics processing units). And Google's parent company Alphabet is one of Nvidia's biggest customers, behind Microsoft and Facebook's parent company Meta. Companies are increasingly developing their own AI hardware to reduce their dependence on Nvidia.

-Laura Bratton contributed article.

Sources 1/ https://Google.com/ 2/ https://qz.com/google-alphabet-stock-market-cap-ai-1851404173 The mention sources can contact us to remove/changing this article

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