tl;dr
Google (NASDAQ:GOOG) (NASDAQ:GOOGL) unveiled its long-awaited Gemini large language model on Wednesday, marking a significant innovation for the tech giant and further establishing its position in the generative artificial intelligence race. Analyst Doug Anmuth reiterated his overweight rating and...
Google (NASDAQ:GOOG) (NASDAQ:GOOGL) unveiled its long-awaited Gemini large language model on Wednesday, marking a significant innovation for the tech giant and further establishing its position in the generative artificial intelligence race.
Analyst Doug Anmuth reiterated his overweight rating and $150 price target, emphasizing that the three versions of Gemini, known as Ultra, Pro, and Nano, will enable the model to efficiently address diverse use cases and hardware capabilities. This adaptability should facilitate better cost management and address growing industry demand for smaller, cost-efficient AI models, as well as avoiding lock-in to specific models, Anmuth stated.
Despite potential pushback due to limited early use cases for Pro and Nano and uncertainty about monetization for search, Anmuth is encouraged by the consumer availability of Gemini Pro to power Google's Gen AI chatbot, Bard, competing with ChatGPT owned by Microsoft-backed OpenAI.
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