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Google surges after buying back billions of dollars of its own stock
Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell. All it had to do was to hand out billions of dollars to investors.
Alphabet, theparent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell. Alphabet chief executive Sundar Pichai attributed the success to the company’s investments in artificial intelligence, including the large language model and suite of AI products it calls Gemini. “Investors should keep an eye on potential AI overspending, but for now, Satya Nadella’s forward-looking strategy is building value by infusing productive intelligence across Microsoft’s entire portfolio, from the cloud to the desktop.”
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