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Google Loses Over $100 BILLION After Chatbot Bard Gives WRONG Answer in Ad
Google Loses Over $100 BILLION After AI Chatbot Bard Gives WRONG Answer in Ad
Alphabet Inc lost $100 billion in market value on Wednesday after its new chatbot shared inaccurate information in a promotional video and a company event failed to dazzle, feeding worries that the Google parent is losing ground to rival Microsoft Corp.
BBC 11 FEB 2023
Reuters was first to point out the error in Google's advertisement, which debuted Monday, about which satellite first took pictures of a planet outside the Earth’s solar system. Shares of the company's parent Alphabet fell 8% or $8.59 a share to $99.05 and was one of the most actively traded on U.S. exchanges.
The tech giant posted a short GIF video of Bard in action via Twitter, describing the chatbot as a "launchpad for curiosity" that would help simplify complex topics, but it delivered an inaccurate answer that was spotted just hours before the launch event for Bard in Paris.
"This is a hiccup here and they're severely punishing the stock for it, which is justified because obviously everybody is pretty excited to see what Google's going to counter with Microsoft coming out with a pretty decent product," said Dennis Dick, founder and market structure analyst at Triple D Trading.
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