Despite challenges with its AI offerings, Alphabet is focusing on AI as a key to its business growth. The company plans to develop its own central processing unit, Axion, to facilitate the training of complex AI models. Alphabet's CEO, Sundar Pichai, emphasized the company's position for the next wave of AI innovation and announced a $70 billion expansion of its stock repurchase program.
Key takeaways:
- Alphabet, Google's parent company, has achieved a $2 trillion market cap milestone, making it the world's fourth most valuable public company.
- The company's recent success is attributed to the performance of Google's search engine and the contributions of Google Cloud, which has been equipped with generative AI services.
- Despite facing criticism, Alphabet continues to bet on AI as a key to its business growth and is developing its own central processing unit called Axion to facilitate the training of complex AI models.
- Alphabet has also announced that it would expand its stock repurchase program by $70 billion.