Alphabet shares jumped 4.9 per cent on Thursday, July 14, 2023, after the firm announced the launch of its artificial intelligence chatbot Bard across Europe and Brazil. The news allayed investor fears about outside regulatory hurdles, which had been preventing Bard from entering the EU.
The stock, which is currently trading at $124.73, is on track to post its largest one-day percentage rise since early February, when the product was originally released. Furthermore, the shares touched their highest level since mid-June during the session. So far this year, the stock is up roughly 41 per cent.
In comparison to the overall market, Alphabet shares have outperformed, with the S&P 500 up 0.6 per cent. Based on recent statistics, this spike can be ascribed to signs of a decrease in inflation. The debut of Bard in the European Union was delayed owing to concerns expressed by local privacy regulators. Google, on the other hand, was able to solve these concerns successfully by positive dialogues with regulatory agencies, stressing transparency, choice, and control.
Alphabet stated that it talked with European regulators to reassure them about Bard’s privacy and security protections. According to the firm, Bard would be held to the same high privacy standards as other Google products.
The sources for this piece include an article in Reuters.