In the world of tech, ChatGPT has been making waves lately. The AI chatbot has become a sensation in the stock market, boosting the value of companies like Buzzfeed who plan to incorporate its technology into their business. But what does this mean for tech stocks? Microsoft, Google parent Alphabet, and Chinese tech giant Baidu have all taken steps to harness the technology behind ChatGPT. In this blog post, we’ll explore what their efforts could mean for investors.
Microsoft announced in January that it would invest $10 billion into ChatGPT creator OpenAI as part of a multi-year, multi-billion dollar investment. The tech giant has since released a version of its Teams premium that uses OpenAI technology, and it’s reportedly planning to launch a version of its search engine Bing powered by ChatGPT. Analysts believe that this could give Microsoft a considerable edge over its Big Tech rivals and lift its share price.
Meanwhile, Google parent Alphabet is reportedly scrambling for alternatives to ChatGPT, as the AI bot could pose a threat to its search engine. The company is said to be testing out potential rivals to OpenAI’s tech, including a homegrown chatbot called “Apprentice Bard”. However, analysts don’t think that ChatGPT’s rise will weigh on Alphabet’s share price in the long-term.
Baidu, the Chinese search giant, is also working on developing a rival to ChatGPT to use in its services. Shares jumped 3.2% the day of the report, but analysts expect the rally to fade after a short-term run.
Overall, it’s clear that ChatGPT has become a major player in the tech world. With Microsoft, Google, and Baidu all taking steps to harness the technology behind the AI chatbot, it’s possible that it could have a significant impact on tech stocks. We’ll have to wait and see what the future holds.
Source: markets.businessinsider.com