GOOGL - Despite Its Recent AI Blunders This Magnificent Seven Stock Is Still a Buy and Hold
2024-05-10 05:00:00 ET
This year's news cycle has been dominated by artificial intelligence (AI), and companies across tech are racing to release the most efficient and effective AI tools possible. Microsoft , now the world's largest company by market capitalization, took an early advantage with its backing of OpenAI, the pioneering creator of the large language model (LLM) known as ChatGPT.
Since the release of its first public iteration, ChatGPT-3, in late 2022, the rest of the " Magnificent Seven " has been playing catch-up, and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has the most to prove.
Large language models like ChatGPT could revolutionize the way people access information on the internet, so its release was seen by many as an existential threat to Google's core business, Search. So much so that the company called in founders Larry Page and Sergey Brin for strategy meetings.
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Despite Its Recent AI Blunders, This "Magnificent Seven" Stock Is Still a Buy and Hold