Google's latest AI fan is Monness, Crespi, Hardt; points to shiny new Pixel devices
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Monness, Crespi, Hardt is the latest investment firm to jump on the Google (NASDAQ:GOOG) (NASDAQ:GOOGL) artificial intelligence bandwagon.
Following the tech giantâs âMade by Googleâ event on Wednesday, analyst Brian White said the âstars in the Google universe shine brighter as AI lights up new Pixel devices,â and kept a Buy rating on the stock.
âAlphabet is well positioned to capitalize on the digital ad trend, participate in the cloudâs growth, innovate with AI, benefit from digital transformation, and leverage a leaner cost structure,â White said in a note. 
âGiven Googleâs storied history developing AI innovations, we believe the company has an opportunity to differentiate itself in mobile devices,â White added.
The analyst is the latest to state that Alphabet (GOOG) (GOOGL) will benefit greatly from the AI boom.
On Monday, Morgan Stanley said the tech giant Amazon (AMZN) and Google (GOOG) (GOOGL) are well-positioned to drive and capture the massive potential market in artificial intelligence, alongside Amazon (AMZN), followed by Piper Sandler saying the same on Tuesday.
Earlier this week, Google (GOOG) (GOOGL) introduced its third-generation Google Tensor processor, the Tensor G3, that powers the new Pixel 8 and Pixel 8 Pro smartphones. It enables enhanced support for generative AI use cases. Google claims that on-device generative AI is â150 times more complex than the most complex model on Pixel 7 just a year ago.â 
Google (GOOG) (GOOGL) said the Pixel 8 series is âbuilt with AI at the center for a more helpful and personal experience.â
Shares of Alphabet (GOOG) (GOOGL) are down 1.2% on Thursday morning.

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