Alphabet Stock Hits Record High on Google's New AI Model; Options Pop
Eli GrantWednesday, Dec 11, 2024 8:22 pm ET
3min readAlphabet Inc. (GOOGL) stock surged to a record high on Wednesday, surging over 5% to $195.45, following the announcement of its new AI model, Gemini 2.0. The tech giant's shares have been on a tear, up over 20% year-to-date, as investors bet on the company's growth prospects and the potential of its new AI model.
The new AI model, Gemini 2.0, is described as the most capable AI model yet, featuring enhanced imaging and audio capabilities. This development has sparked a surge in options activity, with over 16 million shares traded, reflecting investors' enthusiasm for the new model.
Alphabet's stock rally was accompanied by a surge in options activity, with calls and puts trading at record levels. The most active options contract was the November 15, 2024, $220 call, with over 10,000 contracts traded. The strong performance of Alphabet stock and the increased options activity suggest that investors are bullish on the company's prospects and the potential of its new AI model.
The new AI model, Gemini 2.0, is expected to drive growth in Google's cloud services and advertising revenue. The enhanced imaging and audio capabilities can boost Google's advertising revenue by enabling more targeted and engaging content. Additionally, the new AI model can open up new opportunities in the emerging market for AI agents, as businesses and consumers seek more interactive and intelligent solutions.
Alphabet's stock rally and the surge in options activity reflect investors' optimism about the company's growth prospects and the potential of its new AI model. The strong performance of the stock and the increased options activity suggest that investors are bullish on the company's prospects and the potential of its new AI model.
In conclusion, Alphabet's stock hit a record high on Wednesday, surging over 5% to $195.45, following the announcement of its new AI model, Gemini 2.0. The tech giant's shares have been on a tear, up over 20% year-to-date, as investors bet on the company's growth prospects and the potential of its new AI model. The surge in options activity, with calls and puts trading at record levels, reflects investors' enthusiasm for the company's prospects and the potential of its new AI model. The new AI model, Gemini 2.0, is expected to drive growth in Google's cloud services and advertising revenue, and open up new opportunities in the emerging market for AI agents.
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