Top 10 AI News Updates to Catch Up on This Weekend

3. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 234

Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses. On March 14, TD Cowen lowered the firm’s price target on the stock to $210 from $220 and kept a “Buy” rating on the shares. The firm said that Google Cloud is expected to generate 3.7 times more incremental revenue from GenAI driven by the ramping up of services and a flattening of capex growth in the latter period. It also highlighted Gemini, Google’s initiative, as a key competitive advantage over competitors such as Amazon Web Services (AWS) and Microsoft’s Azure. It expects Gemini to contribute to a higher percentage of GenAI revenue within Google’s total revenue stream. The firm updated its model and raised capex estimates on GenAI infrastructure buildout and also made changes to other estimates.