Alphabet Class C ( (GOOG) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alphabet Class C, the parent company of Google, has made significant strides in quantum computing with a new algorithm called ‘quantum echoes.’ This breakthrough allows their quantum systems to solve scientific problems about 30% faster than traditional computers, particularly in predicting molecular formations. Despite the promising results, experts urge caution, noting that the technology is still in its early stages and not yet superior to classical algorithms. The company’s stock saw a modest increase, reflecting cautious optimism among investors.
In addition to advancements in quantum computing, Alphabet is also making moves in the AI space. The company has launched a ‘co-scientist’ tool to aid in scientific research and has reported that its AI model, Gemma, has identified a potential new cancer therapy pathway. These developments highlight Alphabet’s commitment to integrating AI into scientific research, although no AI-discovered drug has been approved yet. Analysts maintain a ‘Strong Buy’ consensus on Alphabet’s stock, with a price target suggesting a potential upside.