Google Ends 2024 Strong with AI Innovations and Stock Resurgence

Alphabet's advancements in AI and cloud computing drive investor confidence despite antitrust challenges and increased competition.

Alphabet stock saw a 14% rise in December, outpacing most Big Tech peers and capping a 37% annual gain, though still behind the average for the 'Magnificent Seven.'
Google's AI Overviews, integrated into its search engine, have increased user engagement and satisfaction while reducing generative AI costs by 90%.
The company's Gemini 2.0 AI model, launched in December, powers AI Overviews and has been rolled out to 100 countries, enhancing search and advertising capabilities.
Waymo, Alphabet's autonomous vehicle division, announced plans to expand its robotaxi service to Miami by 2026 and reported significant growth in weekly trips.
Despite antitrust lawsuits and increasing competition from startups like OpenAI, analysts see Alphabet's AI and cloud computing advancements as key drivers of future growth.