Why Alphabet Stock Is Falling Again Today
On February 8th, 2021, Google parent company Alphabet announced Bard, its newest artificial intelligence chatbot. The announcement was met with much fanfare and excitement, as Bard is seen as a direct competitor to OpenAI’s GPT-3. However, Bard’s debut was not without its hiccups, as technical difficulties during the announcement led to a $100 billion loss in Alphabet shares.
What went wrong?
Some have speculated that Bard’s technical difficulties were due to Google’s rush to release the chatbot before its competitor. In its haste, it seems that Google may have overlooked some important details, leading to Bard’s less-than-smooth debut.
It’s no secret that Google and Alphabet are under immense pressure to maintain their dominance in the tech world. With rising competition from the likes of Amazon and Facebook, Google can ill afford any missteps. Unfortunately, Bard’s rocky start is just the latest in a series of blunders that have caused Alphabet’s stock to fall.
In the past year, Google has been hit with antitrust lawsuits, faced criticism for its handling of user data, and been forced to make a number of changes to its popular products. As a result, Alphabet’s stock is down 7% today.
So, what does the future hold for Bard and Google? Only time will tell. However, one thing is certain: the pressure is on for Alphabet to get Bard up and running smoothly. Otherwise, it could be a long road ahead for the tech giant.
