Alphabet (GOOG) stock rose 4% during Thursday’s trading session, rising for a second straight day. Class C shares of Alphabet rose 4% to 175.27 as of 11 a.m., trading at levels last seen three months ago. Alphabet stock remains down about 7% so far this year.

Alphabet is up after sharing some promising updates at its annual developer conference. The updates revolved heavily around artificial intelligence, a sector that has benefited big tech companies like the Google creator, Apple (AAPL), and Microsoft (MSFT). Alphabet’s conference included the rollout of “AI Mode” to all its U.S. users, much to the joy of investors. The company announced a $249.99-a-month subscription for its AI power users, giving an answer to why Alphabet has been investing so heavily in AI lately.

Bank firms responded positively to the updates from Alphabet. After the conference, “we are incrementally confident that Google can deliver continued search growth while ramping monetization, suggesting improving execution,” Citi analyst Ronald Josey wrote in a note. “We believe monetization of AI Mode is likely to ‘soon’ follow the U.S. launch,” he added.

Also Read: Kraken to Offer Tokenized Stocks for Apple, Tesla, & Nvidia

The Google parent company is currently selling at a P/E ratio of 19. Moreover, it stands as a top AI development firm, first utilizing the tech more than 24 years ago. Additionally, its financials are incredibly strong, with $75 billion in free cash flow over the last year and $95 billion in liquidity. There are still questions, specifically regarding how it stands in the AI space. The arrival of OpenAI’s ChatGPT changed everything, which knocked Google’s market share to below 90% for the first time ever, according to a recent report. However, the latest developer conference provides investors with hope that a rebound is imminent.

Class C shares in Alphabet (GOOG) are trading in the middle of its 52-week range and above its 200-day simple moving average. CNN analysts are bullish on the stock, with 84% of 70 analysts surveyed suggesting buying the stock now.

Alphabet (GOOG) stock rose 4% during Thursday’s trading session, rising for a second straight day. Class C shares of Alphabet rose 4% to 175.27 as of 11 a.m., trading at levels last seen three months ago. Alphabet stock remains down about 7% so far this year.

Alphabet is up after sharing some promising updates at its annual developer conference. The updates revolved heavily around artificial intelligence, a sector that has benefited big tech companies like the Google creator, Apple (AAPL), and Microsoft (MSFT). Alphabet’s conference included the rollout of “AI Mode” to all its U.S. users, much to the joy of investors. The company announced a $249.99-a-month subscription for its AI power users, giving an answer to why Alphabet has been investing so heavily in AI lately.

Bank firms responded positively to the updates from Alphabet. After the conference, “we are incrementally confident that Google can deliver continued search growth while ramping monetization, suggesting improving execution,” Citi analyst Ronald Josey wrote in a note. “We believe monetization of AI Mode is likely to ‘soon’ follow the U.S. launch,” he added.

Also Read: Kraken to Offer Tokenized Stocks for Apple, Tesla, & Nvidia

The Google parent company is currently selling at a P/E ratio of 19. Moreover, it stands as a top AI development firm, first utilizing the tech more than 24 years ago. Additionally, its financials are incredibly strong, with $75 billion in free cash flow over the last year and $95 billion in liquidity. There are still questions, specifically regarding how it stands in the AI space. The arrival of OpenAI’s ChatGPT changed everything, which knocked Google’s market share to below 90% for the first time ever, according to a recent report. However, the latest developer conference provides investors with hope that a rebound is imminent.

Class C shares in Alphabet (GOOG) are trading in the middle of its 52-week range and above its 200-day simple moving average. CNN analysts are bullish on the stock, with 84% of 70 analysts surveyed suggesting buying the stock now.