Google A Shares See Rollercoaster Ride Amid Antitrust Rumors and AI Innovations

As of last week, Google A (GOOGL) saw a 1.01% increase, marking gains for three consecutive days, summing up to a 3.40% rise over the period. In the past week, the stock dipped by 1.79%, but year-to-date, it has climbed an impressive 17.33%. The latest market capitalization stands at $2.0147 trillion.

On August 9th, GOOGL shares initially fell by 1.83% to $159.06. There have been reports suggesting that after winning an antitrust lawsuit against Google, the U.S. Department of Justice might seek significant reforms for the company, such as forcing the divestiture of Android.

Last Thursday, GOOGL traded with a significant volume, reaching $41.06 billion, making it the 10th most traded stock on the U.S. market that day. Google has been actively collaborating with Chinese smartphone brands like Xiaomi and Oppo to incorporate its Gemini model into more devices. At the Google I/O Connect China event, several Chinese manufacturers discussed the role of Google’s Gemini in their proprietary hardware. Xiaomi’s upcoming international flagship phone is set to leverage the Gemini model and Google Cloud services.

OPPO's chief product officer Liu Zuohu announced on social media that OPPO phones have integrated Google’s AI model, Gemini. Liu emphasized the strong cooperation with Google and the significant AI advancements achieved. The goal is to democratize AI technology by offering it in smartphones, and they are relentlessly working towards this vision.

During the recent Google developers conference, the tech giant introduced its new Gemini 1.5 Flash AI model. Praised for being the fastest and most cost-effective model to date, it is designed for high-volume tasks including summarization, chat applications, image descriptions, video subtitling, and data extraction from lengthy documents and spreadsheets. The Gemini 1.5 Flash was extracted through the training of the larger Gemini 1.5 Pro model, transferring the core knowledge and skills into this smaller yet efficient version. Notably, the integration of Google Gemini will be exclusive to OPPO’s international models, while the domestic Chinese versions will utilize OPPO’s proprietary AI model.

On August 5th, GOOGL shares experienced a 3.0% decline, closing at $161.666 with a total trading volume of $14.45 billion. Financial reports reveal that as of June 30, 2024, Google A’s total revenue reached $165.281 billion, reflecting a 14.47% year-over-year growth. The net profit attributable to the parent company was $47.281 billion, an increase of 41.48% year-over-year.