How OpenAI Trimmed $50 Billion off Alphabet's Market Cap on Monday
GOOGLAlphabet(GOOGL) The Motley Fool·2024-05-13 23:58

Will OpenAI introduce a new product that can threaten Google? The market is up today, but Alphabet (GOOG -1.47%) (GOOGL -1.58%) shares traded as much as 2.8% lower in early trading, cutting more than $50 billion off the company's valuation. The stock recovered slightly but it was still down 2% at 11 a.m. ET. OpenAI stirs the pot Artificial intelligence (AI) rival OpenAI is holding an event at 1 p.m. ET today and is expected to release a new product. But it's not clear what that product will be after CEO Sam ...