Alphabet shares tumbled more than 8% Wednesday, less than a day after new AI tools announced by Microsoft boosted Wall Street's confidence in search engine Bing's ability to take share from Google.
On Wednesday, Alphabet held its own event, geared toward its new artificial intelligence chatbot known as Bard.
The events from the competing technology giants come as the race to build the next big artificial intelligence innovation heats up in the wake of ChatGPT's showstopping launch.
While capturing share could take time to settle in, analysts are bullish that those gains will come long term.
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Comments
test it for longer term, you will know the Bing story is a hoax