Tech giant Google (NASDAQ: GOOGL) could be delaying the launch of its artificial intelligence large language model (LLM), Gemini, according to The Information. Google’s Gemini is considered to be a rival to Open AI’s Chat GPT, which is backed by Microsoft (MSFT).
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The report stated that the tech giant has told some of its business partners and its cloud customers that Gemini is likely to be launched in the first quarter of next year as opposed to its prior launch goal of this November.
Google’s delay of the Gemini model for its cloud customers suggests that the company aims to strengthen its consumer offerings first. The firm’s CEO, Sundar Pichai, had stated in the Q3 earnings call that the company was developing Gemini in different sizes and capabilities, and outside developers have already tested the smaller versions of the model. However, Google is still in the process of finalizing its primary version.
What is the Future Price of GOOGL Stock?
Analysts remain bullish about GOOGL stock with a Strong Buy consensus rating based on 26 Buys and six Holds. GOOGL stock has soared by more than 50% year-to-date and the average GOOGL price target of $152.77 implies an upside potential of 14.3% from current levels.
