Alphabet (GOOGL, Buy, $210 target) Where does AI Search competition stand now? Reviewing the three main investor angles post I/O & GML
With the dust settled on Google I/O and Marketing Live, the key controversy remains new competition from emerging AI-native chatbot/assistants, particularly ChatGPT.This week’s events served up the next steps in how GOOGL’s tactics and tools are evolving, and we think the company is more effectively leveraging its vertically integrated AI stack and accelerating innovation.
Alphabet is a holding company. Through its subsidiaries, the company is engaged in a collection of businesses, which its primary business is Google. The company reports all non-Google businesses collectively as Other Bets. Google's main products and platforms are Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube. The company also provides advertisers with tools that help them attribute and measure their advertising campaigns. In addition, Other Bets includes Access, Calico, CapitalG, GV, Verily, Waymo, and X, among others. Other Bets primarily engages in the sales of internet and TV services through Access as well as licensing and research and development services through Verily.
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