OpenAI testing AI search product to take fight to Google; Alphabet falls

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Go back to OpenAI testing AI search product to take fight to Google; Alphabet falls

Google stock: SearchGPT creates 'a “wall-of-worry” for investors at a minimum': Loop Capital

July 29, 2024 9:13 AM EDT

In a recent note, Loop Capital analysts highlighted concerns surrounding Alphabet (NASDAQ: GOOGL) amidst YouTube's advertising challenges and the emerging competitive threat from OpenAI's SearchGPT prototype.

Maintaining their $170 price target and Hold rating on GOOGL shares, Loop Capital expressed caution despite some positive aspects of Google's financial performance.

Last week's sell-off in GOOGL shares was attributed to weaknesses in YouTube and a miss in Google Network, reflecting a softening... More