Google Cloud and Nvidia Join Forces: Analysts Optimistic on Alphabet's AI-Driven Future
Portfolio Pulse from Anusuya Lahiri
Analysts from Citi, KeyBanc, and JMP have reiterated positive ratings on Alphabet Inc (NASDAQ:GOOGL) following the Google Cloud Next '23 event. The analysts highlighted Google's advancements in AI, the growth of Google Cloud Platform's (GCP) GenAI tools, and the strategic collaboration with Nvidia Corp (NASDAQ:NVDA). They believe that Google's AI-driven future and the strength of the AI product cycle will sustain mid-20% Y/Y growth through 2025.
August 30, 2023 | 7:01 pm
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POSITIVE IMPACT
Analysts are optimistic about Alphabet's AI-driven future, highlighting the growth of Google Cloud Platform's GenAI tools and the strategic collaboration with Nvidia. They believe these factors will sustain mid-20% Y/Y growth through 2025.
The positive ratings from analysts, the growth of GenAI tools, and the strategic collaboration with Nvidia are all factors that could positively impact Alphabet's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia's strategic collaboration with Alphabet's Google Cloud Platform was highlighted by analysts. This partnership could have a positive impact on Nvidia's stock price.
The strategic collaboration with Alphabet's Google Cloud Platform could positively impact Nvidia's stock price as it indicates a strong partnership and potential growth opportunities.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50