Google parent company Alphabet (GOOGL) has released Gemini 2.0, its most advanced artificial intelligence (AI) model, to the general public.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
In December, the company gave access to Gemini 2.0 to a limited number of developers and testers, as well as wrapping some features into its various Google products. However, the company has now moved to a “general release” of the powerful AI model.
Gemini 2.0 includes 2.0 Flash, which is being promoted as a “workhorse model, optimal for high-volume, high-frequency tasks at scale.” The Gemini 2.0 model also includes the ability to use AI for coding. The technology giant is calling the new AI its “most cost-efficient model yet.”
AI Strategy
The new Gemini release is part of a broader strategy at Alphabet to develop advanced AI agents and keep up with competitors that include everyone from Microsoft (MSFT) and Meta Platforms (META) to start-up companies such as OpenAI and China’s DeepSeek.
Anthropic, the Amazon (AMZN) funded AI start-up, is a key competitor of Alphabet’s in the race to develop AI agents. In October, Anthropic said that its AI agents were able to use computers like humans to complete complex tasks. OpenAI released a similar tool recently.
The release of Gemini 2.0 also comes a day after Alphabet released its latest financial results that showed the company missed its revenue targets and plans to spend $75 billion in capital expenditures this year, mostly on AI. GOOGL stock is down 8% the day following its latest earnings print.
Is GOOGL Stock a Buy?
The stock of Alphabet has a consensus Moderate Buy rating among 29 Wall Street analysts. That rating is based on 21 Buy and eight Hold recommendations assigned in the last three months. The average GOOGL price target of $219.00 implies 6.11% upside from current levels.
