Alphabet Inc. Stock Plummets After AI Mishap at Google's Bard Ad Event

Shares of Alphabet, Google's parent company, fell during an AI event due to competition from Microsoft. Image source: wallpapercave

[{"selector":"#anim-14df3127-bc27-4b89-947d-067755370237","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8033d497-806b-43e9-892b-5ab5ed7d84fb","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2dbc0ae1-1eab-416b-8184-8b79a1657e17 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The day before, Microsoft hosted its own AI event focused on updates to its Bing search engine and Edge browser. Image source: wallpapercave

[{"selector":"#anim-38fc5b03-327d-4e46-9abd-c8a946dd548f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-7d99ad05-8683-4a69-b8e2-af412bb07aae","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-758db60c-f8b3-49d0-baf3-533aeafb0b64","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Microsoft used technology from OpenAI, in which the company has invested billions, to power its updates. Image source: wallpapercave

[{"selector":"#anim-33dc86b6-42e7-4ac4-adfa-e4394955a616 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-df323e1f-d1b6-413e-9c11-4200027f2b03","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d6cebfd1-9f8d-43e0-9a27-76d164ec6d05","keyframes":{"transform":["translate3d(0px, 152.02021%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] OpenAI's ChatGPT software, which generates text based on prompts, went viral in November and led to Google declaring an internal "code red" to accelerate development of its AI products. Image source: wallpapercave

[{"selector":"#anim-79a4c655-3dbe-453d-a7fd-ee407ee44357 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-92c73998-487a-46cd-9fbb-0a80ff8a378b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8c985c9a-447d-4d80-afcc-0e048f7215ae","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Microsoft's investment in AI puts pressure on Google search, but analysts say it will take time for Microsoft to see significant gains. Image source: wallpapercave

[{"selector":"#anim-5908b0fe-6c30-421d-b487-822abb544ea0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-ef73911b-1dd8-4c77-b96d-d2c92324e471","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7cba9477-6bac-4d47-a5e7-6a1c8c05722c","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Analysts at Evercore believe that there was "little incremental news" from Google's event, contributing to the fall in stock price. Image source: wallpapercave

[{"selector":"#anim-f59ff27d-7e73-42bf-94dc-c61988d60ac8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d161dab6-5bb8-4e09-a92c-9dbc1a2f8450","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07a26cdf-16d0-4ab9-a0ac-bbfd378b1ec3","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The AI wars are heating up, with many tech companies vying to release their AI-powered products first. Image source: wallpapercave

[{"selector":"#anim-3f0cfddc-0dca-4a3b-ad97-8fff3ce9ba83 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-eceba25f-e3f0-4ae6-a86e-892f8674a65b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5cecd1f4-49ce-4fcf-b7ee-f69ba70825f4","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] OpenAI has a head start with its ChatGPT chatbot, which has a wide range of uses and is the fastest-growing consumer app in history. Image source: wallpapercave

[{"selector":"#anim-0d4e0ae4-5541-4e04-bbba-d820c0e0cf5e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c2d120ff-0c52-40e2-8e9d-4c54395cdd52","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2433b46a-e60d-4240-925f-ce40cdb22456","keyframes":{"transform":["translate3d(0px, 216.78009%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Microsoft, Google, and Baidu are all investing in AI. Image source: wallpapercave

[{"selector":"#anim-baf81665-fdc2-48b7-afad-ea8f472dd176 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-5f68658b-53dc-4eee-be66-e1a088319471","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d46b414b-c9ab-4f62-a37f-3ad87af98714","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Google is premiering its own AI-powered chatbot, Bard, which is powered by LaMDA, a language learning model similar to ChatGPT. Image source: wallpapercave

[{"selector":"#anim-ce0fd435-fdbb-4b8a-b072-0f631d646dcd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.695312243296794%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-b5c74f28-5f84-4293-8131-0ac2264a9062","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-edb2d845-8a38-4487-8397-03b1f709314b","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] CEO of Alphabet, Sundar Pichai, wrote that LaMDA will eventually be integrated with Google's search engine. Image source: wallpapercave

[{"selector":"#anim-59d8845f-c8e2-43ed-be52-656758fd5724 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-aa636964-0dc2-41f3-9caa-ee1aa9f7084d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0cfd4406-a643-4f26-8e5f-ce69caad4cc4","keyframes":{"transform":["translate3d(0px, 216.78009%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Bard will be released to the public in a few weeks, according to Pichai. Image source: wallpapercave

[{"selector":"#anim-f0635cc5-9677-4462-b97d-c5a25c9f78d9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-89b2d3de-7f0b-4f41-87d4-40ad5a9a9bd6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-45cdd03d-ef78-458c-975f-9d57d8477b7e","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] In a promotional video, Bard was asked for help with everyday tasks and more technical questions. Image source: wallpapercave

[{"selector":"#anim-0cdc4ac3-4a63-4043-8e82-9202ad01de95 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-ac397cb1-afbd-4a4f-b5f7-363ee90f6a50","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de0835ee-c6d3-4310-9f43-b4543d5fdb87","keyframes":{"transform":["translate3d(0px, 181.74604%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] However, Bard received criticism for inaccurate responses, including a mistake about the James Webb Space Telescope. Image source: wallpapercave

[{"selector":"#anim-852ffb38-9847-44a8-80fd-6e2d03bc59c7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-0e349d47-ab0c-411c-90d6-6b397676b6c3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-212f379c-b36f-4ddf-b01c-aaa94f9cb4ac","keyframes":{"transform":["translate3d(0px, 216.78009%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The error cost Google $100 billion in market value and its shares fell nearly 8% in trading. Image source: wallpapercave

[{"selector":"#anim-bd8a6219-9120-4706-a698-e46fd5d6b98d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-6de5e21b-709c-4ba6-8167-a589666bba7f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2300bce0-1122-427a-ba3b-8ff9e1f4898d","keyframes":{"transform":["translate3d(0px, 216.78009%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Reuters was the first to report on Bard's mistake. Image source: wallpapercave

[{"selector":"#anim-351626b7-19a7-4a91-9288-0fd54a8d693b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-629358f3-584e-4538-b7bf-e77c6cfa76ef","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a07ec03d-1805-4851-9650-5e8843b80eeb","keyframes":{"transform":["translate3d(0px, 216.78009%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Google's market cap fell from $1.35 trillion last week to $1.27 trillion on Wednesday. Image source: wallpapercave

[{"selector":"#anim-c799c8fd-6aa1-469f-bee2-d6bb35362503 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.6562497430597665%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-57695788-b87d-49a5-ba8b-8e7dd0af580b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-df53e3bb-405f-4102-a39a-a4db998ac775","keyframes":{"transform":["translate3d(0px, 163.58024%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The error was discovered just before Google hosted an event in Paris to display more of Bard's capabilities. Image source: wallpapercave

[{"selector":"#anim-d716740c-da43-4b6e-b2e0-506f07c7413a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a6834d47-8a05-411e-bf72-3d97195080d8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e25fca0b-7d3a-4d24-b36f-fb263762ebfd","keyframes":{"transform":["translate3d(0px, 194.60318%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Bard's mistake highlights the importance of a rigorous testing process, which Google is starting with its Trusted Tester program. Image source: wallpapercave

[{"selector":"#anim-bcfeb096-196b-40d3-998f-378f96e40879 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.617187242822735%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8c95fb2e-4910-4d40-8194-f7815f587fe4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bb9dd371-7675-4ff9-ad4e-ee0494307e1e","keyframes":{"transform":["translate3d(0px, 163.58024%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Despite the error, some analysts believe that Google's AI technology is at least as good as its competition and will help defend its market position in the long run. Image source: wallpapercave

[{"selector":"#anim-d8339c19-35ac-4893-9783-d58a18503747 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Learn more