Alphabet hits near three-month high on new AI updates
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Alphabet's shares rose 4% to a near three-month high following the rollout of AI updates, including the new "AI Mode" for U.S. users. The $249.99 monthly subscription for AI power users alleviated funding concerns for AI development. Citi analyst Ronald Josey expressed confidence in Google's ability to sustain search growth and improve monetization. CEO Sundar Pichai noted that generative AI won't fully replace online search. The stock is down 7% year-to-date but has shown positive momentum recently.
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