Alphabet (GOOGL, Buy, $200 target) I/O technically impressive but monetization waits for GML next week
Google kicked off its I/O event with a keynote address earlier today. In this brief note, we discuss stock implications and new announcements, including:1. Update on the GOOGL Catalyst Path & AI Vibe Check
2. AI Overviews rolling out across Search in the US, to 1B users by year-end.
3. Project Astra: GOOGL’s universal AI agent spans across product features.
4. 1M-token Gemini context-window rolling out, 2M-token context moves to private preview.
5. TPU v6: Trillium appears focused on inference efficiency.
6. New models are focused on deployment efficiency and new modalities.
7. Workspace gets a side panel and new AI teammate.
8. Gemini for Android integrated on every surface, including calls.
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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