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'Buy Alphabet Stock,' Says Top Analyst as It Ramps Up the AI Stakes – TipRanks.com – TipRanks

Goodbye Bard, hello Gemini. last week, Alphabet (NASDAQ:GOOGL) provided an update on its LLM (Large Language Model) efforts, including changing the brand name of its AI chatbot from Bard to Gemini. Similar to competitor ChatGPT from OpenAI, the company plans to offer a tiered subscription service for bots.

The updated Gemini offers different levels of service, from a basic free option to the top-of-the-line Ultra 1.0 package for $19.99 per month. Google says the Ultra version, which leverages Gemini Advanced AI models, excels at complex tasks such as programming, creative teamwork, and logical analysis, and that its unique hierarchies and models differentiate it from competitors. There is. According to the company’s benchmarks, Gemini outperformed his GPT-4V (GPT-4 with vision) at various levels, including university-level reasoning problems, optical character recognition, document understanding, and speech recognition.

The bot is also available through a standalone Android app called Gemini, and will be accessible through the standard Google app on iOS in the coming weeks. Bard is now accessible only to users who have enabled the Google Labs feature, but via a web browser he is already accessible in 40 languages.

TD Cowen five-star analyst John Blackledge says the latest update offers a lot of good news for investors. “Net-net,” Blackledge said. “In particular, we believe that the new offering of a Gemini-based paid subscription product (Google One AI Premium) supports the idea that GOOG has full confidence in its quality, so we are pleased with GOOG’s announcement. positive” production volume to charge consumers a monthly fee. Note that OpenAI and Microsoft already offer multiple subscription-based services, including access to OpenAI’s GPT-4 LLM. ”

Gemini’s capabilities were first demonstrated with an announcement in December 2023, at the same time the company emphasized its adherence to safe and responsible development. Apart from integrating classifiers to filter out malicious content, Google also worked with third parties to rigorously test the model. “This aligns with his GOOG commitment to the responsible deployment of AI,” Blackledge says. “In our view, this is an important theme that emphasizes that GOOG will carefully deploy his GenAI products in his 23rd year.”

Overall, Blackledge reiterated his Outperform (i.e. Buy) rating on GOOGL stock, in line with his $165 price target. This figure incorporates his 12% 12-month growth rate from current levels. (Click here to see Blackledge’s track record)

Blackridge’s goals closely mirror those of Street. The average price target is currently $164.56, representing an upside of approximately 13%. In terms of ratings, the stock claims a consensus rating of “Strong Buy” based on a combination of 29 Buys to 8 Holds. (look Alphabet stock price prediction)

To find good ideas for trading stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, the tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Content is for informational purposes only. It is very important to perform your own analysis before making any investment.

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