The price of Google shares was lower despite the release of its new premium AI tool.
GOOG – Daily Chart
GOOG shares still hold the recent uptrend, and support is $144-145.
Google announced the rebranding of its Bard AI chatbot as Gemini, alongside a new mobile app and a more powerful AI tool called Gemini Advanced. As of Thursday, a Gemini app will launch on Android for the first time, and the chatbot will be available inside the official Google app on Apple’s iOS.
In a major update to the company’s AI tools, the mobile app upgrades will launch alongside a new subscription-based service called Gemini Advanced, which uses the more powerful LLM Ultra 1.0 AI model. The recent launch comes as part of an AI Premium Plan offering within Google One, which will cost $19.99 per month but is free for the first two months.
In its recent fourth-quarter earnings, Google said it was expanding into AI with Gemini as it challenges Microsoft’s ChatGPT tool.
The initial market reaction was weak, but traders were likely expecting a similar tool and will now wait to see adoption. CEO Sundar Pichai recently said the Google One suite has surpassed 100 million users.
All Google One plans include increased storage, extra photo editing tools, VPN protection, and more. The basic plan starts at $1.99 monthly for 10GB of storage and moves up to 200TB for premium.
