Artificial intelligence has transitioned into a war among the big boys of the tech world, and with the stakes high, each player has upped the ante to make inroads into this hot-and-happening technological arena.
What Happened: Against this backdrop, fund manager Cathie Wood offered her take on how the AI battle of big techs will shape up.
Wood said she has been expressing her frustration with Alphabet Inc.’s GOOGL GOOG Google Search over the last few years. She slammed Google Search as “primitive AI" despite the company’s DeepMind expertise.
See Also: Best Technology Stocks Right Now
The stock picker was responding to a tweet thread of Ark Invest analyst Brett Winton. Winton said Google Search’s dominance has been its vulnerability. He shared a chart showing a modest pullback in Google traffic share following Bing’s integration with ChatGPT.
“Losing share is tactically optimal (and strategically disastrous),” he said.
“Disruptive innovation!” she chimed in.
Microsoft, which has had a longstanding partnership with OpenAI, recently deepened the relationship with a $10 billion investment in the latter. The expanded deal allows the software giant to integrate ChatGPT into its Bing search engine as well as its Cloud business.
Reacting to Microsoft's move, Alphabet, which already had in development a ChatGPT equivalent, announced its version called Bard in early February. In the first-ever demo coinciding with the unveil, Bard made a factual error. That triggered a steep slump in Alphabet’s shares.
Read Next: This AI Stock Has Generated 60 Times More Returns Than Microsoft, Alphabet, SPY In 2023
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
