OpenAI, which counts Microsoft as a key supporter, has begun utilizing Google's (GOOG, Financial) AI chips for its popular product ChatGPT, as well as other offerings. This development signifies a strategic shift for OpenAI, which has primarily relied on Nvidia's technology for its artificial intelligence endeavors. This marks a significant diversification in OpenAI's hardware usage strategy, offering an alternative to Nvidia's widely used AI semiconductors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $201.56 with a high estimate of $225.00 and a low estimate of $185.00. The average target implies an upside of 13.06% from the current price of $178.27. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $199.83, suggesting a upside of 12.09% from the current price of $178.27. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.
