Alphabet Stock Surges on Apple’s Potential AI Partnership with Google
Alphabet shares (GOOG, GOOGL) jumped 3.7% Friday, outpacing the broader Nasdaq's 1.84% gain, after Bloomberg reported Apple is in talks to license Google's Gemini AI for a Siri overhaul. The move signals a potential shift from Apple's rumored OpenAI collaboration, with markets interpreting the deal as a strategic win for Google's AI division.
Federal Reserve Chair Powell's dovish Jackson Hole comments provided tailwinds for tech stocks, but Alphabet's outperformance stems directly from the Apple news. Engineering delays have plagued Apple's promised AI-powered Siri upgrade, making Google's proven large language models an attractive alternative. The partnership could cement Gemini's position as the white-label AI solution for major tech firms.
