|Day's range||198.69 - 199.11|
Amazon CEO Andy Jassy announced the company is laying off an additional 9,000 workers.
The hype generated by the release of ChatGPT, the artificial intelligence (AI) search engine chatbot created by OpenAI and backed by Microsoft (NASDAQ: MSFT), caused consternation among Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) investors. Google Search dominates the market with a share of almost 85%, easily besting Microsoft Bing's 9%. While it's too early to know if ChatGPT is an actual threat, especially since Alphabet has its own AI in the works, putting too many eggs in one basket isn't wise.
Critics of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) believe that the company is lagging behind OpenAI and Microsoft in the artificial intelligence (AI) race. It could be a huge mistake to underestimate Alphabet's AI expertise or Google Search's resilience.