The moment Bloomberg News reported that Apple was considering consumer products friendly artificial intelligence competitors OpenAI's ChatGPT and Google's Bard; Market capitalization skyrockets The stock price rose $67 billion, or $3.80 per share, to more than $197, according to data obtained. From FactSet.
Traders took this as a selling opportunity, and the stock was down about $2.67 per share at press time, but was still up 0.71% on the day.The company's market capitalization is Sit down 3.06 trillion, APPL is trading at about $195 per share. As of 4:30ET on July 19th.
This price increase reflects how investors see generative AI (large-scale language models, not really AI) to increase returns over time. Investors may have also understood the news and sold their shares knowing that Apple's chatbot would only be used internally. at this point Apple is just figuring out what consumer-grade generative AI will look like.
Other companies have also seen their stock prices rise after announcing new integrations with AI tools. including Microsoft and buzzfeed. It remains to be seen whether these generative AI integrations will be reflected in earnings reporting.
Can businesses trust ChatGPT to process their data?
Apple has integrated AI into various parts of its business, including Siri and automation systems.That's true, but this technique is a competing effort with other popular imaginative large-scale language models (LLMs). and fearof the consumer.
Apple's chatbot was created for internal use last year, but its deployment was halted due to security concerns, Bloomberg noted. Apple employees are also not allowed to develop features for Identify customers based on chatbot output. However, we use it to aid in product prototyping. It replicates the functionality of ChatGPT and Bard, but is not pushed to consumers.
Samsung then followed the same path of creating an in-house chatbot. banned staff We have stopped using ChatGPT after discovering a data breach.
According to Bloomberg, Apple is also trialling OpenAI's technology for businesses and is considering partnering with OpenAI. CEO Tim Cook has publicly warned that LLMs introduce bias and misinformation, while also calling for regulation.
