Wedbush: Next-generation AI products boost cloud business prospects, maintains Google's "outperform market" rating
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Wedbush maintains an "outperform" rating on Alphabet (Google) with a target price of $205. Google showcased various AI agent use cases at the Google Gemini at Work event. Analyst Scott Devitt stated that Google's generative AI products will drive growth in its cloud business. Enterprise customers such as Snap, Volkswagen, etc., are actively using these AI agents for six major purposes including customers, employees, code, etc. Google's GenAI solution has been used by over 2 million developers, and Gemini API usage has increased 36 times since the beginning of the year
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