According to a report by The Information, the tech giant Google (NASDAQ: GOOGL) is potentially delaying the launch of its artificial intelligence large language model (LLM) named Gemini. It is speculated that Google’s Gemini faces competition from the OpenAI Chat GPT, supported by Microsoft (MSFT).
As per the report, Gemini’s debut is likely to be pushed to the first quarter of the following year instead of the initially planned launch in November, as indicated by some of Google’s business partners and cloud customers.
The decision to hold back the introduction of Gemini to its cloud users implies that Google is prioritizing enhancements to its customer service offerings. Sundar Pichai, the CEO of Google, mentioned that the company was developing Gemini in various sizes and capabilities, with external developers having tested earlier versions of the model. Google is currently in the process of finalizing the original version of Gemini.
Future Outlook for GOOGL Share Value
Analysts maintain a positive outlook on GOOGL shares, with a Strong Buy consensus rating based on 26 Buy ratings and six Holds. The average price target for GOOGL stands at $152.77, indicating a potential upside of 14.3% from the current levels. Moreover, the company’s stock has already surged by over 50% year to date.
