Select Page

AI Showdown: Google Unveils Gemini to Challenge OpenAI’s GPT-4 as Amazon Fires Up its Arsenal to Rival Microsoft

In late November, Amazon.com Inc (NASDAQ: AMZN) wrapped up its re:Invent conference with a volley of announcements aimed at taking on Microsoft Corporation (NASDAQ: MSFT), its primary AI adversary. Meanwhile, Google, under Alphabet (NASDAQ: GOOG), seized the moment to unveil its latest stride in the AI realm—a cutting-edge AI model dubbed Gemini.

Google’s Gemini: A Multimodal AI Marvel

Gemini, Google’s latest generative AI, steps into the ring to challenge OpenAI’s GPT-4, backed by Microsoft. What sets Gemini apart is its native multimodal approach, seamlessly integrating text, audio, video, images, and code within its model. Unlike amalgamating disparate models, Gemini is purpose-built to understand and synthesize diverse data types from the get-go. Google touts this as a game-changer, asserting Gemini’s prowess in comprehending multimodal information and delivering superior outcomes. This launch signifies Google’s ambitious bid to upend the status quo and make headway in the AI space.

Amazon’s AI Push to Rival Microsoft

At its annual showcase event for Amazon Web Services, Amazon came out swinging in the generative AI arena. Among the key highlights were the unveiling of the Q chatbot, an upgraded AI chip called Trainium2, and an expanded collaboration with chip giant Nvidia Corporation (NASDAQ: NVDA). While Amazon is still playing catch-up with Microsoft and Google in the AI landscape, its strides are noteworthy. The spotlight shone on the Q chatbot, designed as a versatile assistant catering to enterprises. Capable of drafting emails, summarizing reports, orchestrating workshops, and brainstorming business concepts, Q stands out for its training on 17 years’ worth of AWS data. Amazon’s determination to stake its claim in the AI realm is evident, with the Q chatbot poised as a substantial offering for corporate users.

Dow futures steady, Gamestop down 2% after earnings

Stock futures were largely unmoved on Wednesday night, after major benchmark averages closed with mixed performance with both the S&P 500 and the Dow Jones Industrial Average extending losses for the third consecutive session.

By 6:20 pm ET (11:20 pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures moved less than 0.1% apiece.

In the after-hours trading, GameStop Corp (NYSE:GME) traded 2% lower after the company reported EPS of $0.00 versus expected losses of $0.08 per share, while revenues came in at $1.08 billion versus $1.18 billion expected.

C3.ai Inc (NYSE:AI) shed 8.7% after reporting losses of $0.13 per share versus losses of $0.18 per share expected, with revenues coming in at $73.2 million versus $74.33 million expected.

Chewy Inc (NYSE:CHWY) dropped 10.3% after the company reported EPS of $0.15 versus expected losses of $0.06 per share on revenues of $2.74 billion versus $2.76 billion expected.

Braze Inc (NASDAQ:BRZE) jumped 12.9%, reporting losses of $0.05 per share versus expected losses of $0.13 per share, while revenues were reported at $124 million versus $117.29 million expected.

Investors are keeping a close eye on key data releases this week, with ADP nonfarm employment change for November showed that employers added 103,000 positions, falling short of expectations.

The focus now turns to whether the upcoming data releases this week will indicate a similar slowing trend. The weekly jobless claims for November are due before the opening bell on Thursday. The nonfarm payrolls data for the same month, along with wage data and the unemployment rate, will be released on Friday morning.

In terms of earnings, Dollar General Corporation (NYSE:DG) is set to announce its quarterly results before the bell rings on Thursday. Meanwhile, Lululemon Athletica Inc (NASDAQ:LULU) and Broadcom Inc (NASDAQ:AVGO) are scheduled to report after the market closes.

Source: Investing.com

AbbVie Goes Big in Neurology: Snatches Up Cerevel

In a plot twist that set Wall Street abuzz, AbbVie Inc. (NYSE: ABBV) swooped in to claim Cerevel Therapeutics Holdings Inc (NASDAQ: CERE) and its dazzling neuroscience lineup. This isn’t just a stock swap; it’s like adding rocket fuel to AbbVie’s neurology game.

This move significantly bolsters AbbVie’s standing in neuroscience, introducing a rich variety of clinical-stage and preclinical assets poised to potentially redefine treatment norms for psychiatric and neurological disorders, a game-changer for patients with unmet needs.

Investing is like planting a money tree in the garden of your future. You water it with research, nurture it with patience, and watch it grow, branch by branch, into a forest of financial possibilities. But beware: while some trees might yield golden apples, others might sprout lemons. The trick lies in knowing where to dig, when to sow, and when to simply leaf it be. After all, in the world of investing, sometimes you’ve got to go out on a limb to see the fruit!