Why did Google stock go up today? CEO says search engine will have chat feature
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Google (NASDAQ:GOOG) (NASDAQ:GOOGL) shares closed up 3.7% on Thursday after CEO Sundar Pichai said the tech giant would integrate conversational artificial-intelligence features into its flagship search engine.
In an interview with The Wall Street Journal, Pichai said advances in AI could help Google answer queries faster. "Youâll have a whole diverse range of options," Pichai told the news outlet. "The technology will be more accessible than people expect."
Google (GOOG) (GOOGL) unveiled its Bard chatbot in February, albeit to a mixed reception.
He denied chatbots were a threat to the company's search business, as Microsoft (MSFT) has integrated technology based on ChatGPT into its Bing search engine.
"The opportunity space, if anything, is bigger than before," Pichai added.
Search-related revenue accounts for roughly half of Google's (GOOG) (GOOGL) overall revenue.
According to Pichai, smaller AI models will become more useful over time, enabling companies to create their own or users to run the algorithms on their own personal devices.
On Wednesday, Google (GOOG) (GOOGL) said its fourth-generation Tensor Processing Units, or TPUs, that train its artificial intelligence models, are faster and more power-efficient than Nvidia's A100 chips.