Following a subdued initial market response, Alphabet experienced a surge in its stock prices, climbing by 5.3 percent with the grand debut of Gemini. This development ignited enthusiasm on Wall Street in the ongoing AI competition against Microsoft-backed OpenAI, according to Reuters.
Google, a subsidiary of Alphabet, unveiled its most potent AI model, Gemini, on December 6, amid growing concerns about its AI capabilities in a market largely dominated by OpenAI and Meta. While Google developed the technology behind closed doors, OpenAI has taken the lead in the current AI landscape with innovations like ChatGPT and DALL-E.
Alphabet witnessed a significant market upswing, adding over $80 billion to its overall value, in contrast to its February valuation when the company lost nearly $100 billion following a critical review of its Bard chatbot, which provided inaccurate information in a promotional video.
Addressing investor concerns about generative AI innovation and the high cost of running GenAI models, JP Morgan analysts noted, “Google is beginning to address investor concerns around generative AI innovation and the high cost of running GenAI models through the combination of Gemini’s different model sizes.”
JP Morgan analyst Doug Anmuth expressed encouragement, stating, “While the Street mostly yawned at the release yesterday—perhaps viewing the product as not quite complete and the timing both pressured and opportunistic—we are encouraged to see Google’s progress on this major technology shift.”
Gemini 1.0, following in the footsteps of GPT, extends its capabilities across image, audio, video, and text. The spotlight is on Gemini Ultra, Google’s standout model, surpassing expectations by excelling in 30 out of 32 academic benchmarks entrenched in LLM research and development.
Gemini not only outperformed GPT-4 on the massive multitask language understanding (MMLU) benchmark but also emerged as the model surpassing human experts in various subjects such as mathematics, physics, history, law, medicine, and ethics.
Gemini 1.0 features different sizes for specific purposes, with Ultra tackling intricate tasks, Pro propelling Bard into the future, and Nano designed for Android devices like Pixel 8 Pro, Google’s flagship mobile phone.
While Google’s long-term AI strategy remains uncertain regarding monetizing Gemini across all products, the journey begins with licensing the celestial AI to customers through Google Cloud starting this month. The company announced, “Starting on December 13, developers and enterprise customers can access Gemini Pro via the Gemini API in Google AI Studio or Google Cloud Vertex AI.”
