Google’s event came one day after Microsoft unveiled plans to integrate its rival AI chatbot ChatGPT into its Bing search engine and other products in a major challenge to Google, which for years has outpaced Microsoft in search and browser technology. “This is a hiccup here and they’re severely punishing the stock for it, which is justified because obviously everybody is pretty excited to see what Google’s going to counter with Microsoft coming out with a pretty decent product,” said Dennis Dick, founder and market structure analyst at Triple D Trading. The tech giant posted a short GIF video of Bard in action via Twitter, describing the chatbot as a “launchpad for curiosity” that would help simplify complex topics, but it delivered an inaccurate answer that was spotted just hours before the launch event for Bard in Paris. Shares of the company’s parent Alphabet fell 8 percent or $8.59 a share to $99.05 and was one of the most actively traded on US exchanges. Reuters was the first to point out the error in Google’s advertisement, which debuted Monday, about which satellite first took pictures of a planet outside the Earth’s solar system. Shares of Google’s parent company lost more than $100bn in market value on Wednesday after its Bard chatbot advertisement showed inaccurate information and analysts said its AI search event lacked details on how it will answer Microsoft’s ChatGPT challenge.
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