Closing Bell: The ABC’s of Alphabet’s Ai Misstep 2/26/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 26 February 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Just how much trouble is Google’s generative AI effort in? Has it lost too much ground to Microsoft and others? Our all-star panel of CNBC’s Deirdre Bosa, Big Technology’s Alex Kantrowitz and Solus’ Dan Greenhaus break down their forecasts for the space. Plus, top bank analyst Mike Mayo explains how he is navigating the sector as financials hit a two year high. And, Strategas’ Chris Verrone is flagging a changing of the guard in the market right now. He explains why he sees more opportunity in health care over the likes of tech.

Transcript

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0:00.0	Welcome to Closing Bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange.
0:04.0	This make-a-break hour begins with the ABCs of Alphabet's AI misstep.
0:08.4	Shares getting smacked around today as its latest answer to chat gp- faces even more criticism all of that only adding
0:15.6	to questions about its ability to compete with Microsoft and others at the
0:18.8	forefront of this technological transformation you see what the stock is doing
0:22.3	there hanging around the lows of
0:24.0	the day down 4%. We're going to ask our experts what's really at stake for that stock in just a few moments.
0:30.0	In the meantime, let's take a look at your scorecard with 60 minutes to go and regulation
0:34.0	a mixed day for equities with really only the Russell getting much going today and even that not so much.
0:39.3	Up 10 points, one half and one percent.
0:40.9	Dow the S&P modestly in the red and there's the NASDAQ hanging out to 16,000.
0:46.3	NVIDIA, what else is new?
0:48.3	Well it's been higher for much of the day and it still is now another three bucks.
0:52.0	It is that big slide in alphabet though that has our
0:54.2	attention over this final stretch. It does lead us to our talk to the tape just how
0:58.1	much trouble is Google's generative AI effort in. Has it lost too much ground to
1:02.3	Microsoft and others.
1:04.1	Big Technologies Alex Kanchowitz is with us on set today along with our own dear
1:08.1	Djibosa covers the company.
1:09.5	Dee, I'm going to begin with you on how Alphabet got into this latest mess in the first place one
1:15.0	some are calling embarrassing now yeah so essentially Scott Google was
1:19.3	trying to be politically sensitive remember that it's AI strategy?
	...

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