I doubt I need to tell you that artificial intelligence (AI) has been the story of the stock market since ChatGPT went live in November 2022. Since then, I don’t think a day has gone by that the subject hasn’t come up in the financial media in some form. And now there are dozens, if not hundreds, of AI stocks for an investor to choose from.
But one stands out above them all: Google’s parent company, Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL). If you’re looking for one stock that lets you play as much of the AI sector as possible, Alphabet is it.
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The company is uniquely positioned on both the hardware and software sides of the AI industry, and it has been quietly asserting its dominance in the space for years. Now, it seems like its efforts are truly beginning to bear fruit.
Image source: Getty Images.
Don’t call it a comeback — Google has been here for years
There’s a very good chance you’ve interacted with Google, or with Alphabet’s other big brand, YouTube, in the past 24 hours. And the parent company’s existing business operations with Google and YouTube have given it more resources to pour into its AI projects than just about anyone else in the tech sector.
It was one of the original tech giants of the dot-com boom, and it’s shaping up to be the biggest winner in the AI boom. The reasons are threefold:
Alphabet’s presence in both AI hardware and software.
Other companies both large and small depend on Alphabet’s AI products.
Its financial strength allows it to outspend all of its smaller competitors, as well as many of its larger ones.
Let’s get into it.
A full-spectrum player
Alphabet’s premier AI product is the Gemini platform. It’s a direct competitor with the likes of OpenAI’s ChatGPT and Anthropic’s Claude, and it’s gaining serious ground in that space.
According to the venture capital…
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