Alphabet, the parent company of Google, is embroiled in a legal battle over patents related to its artificial intelligence (AI) technology. A federal jury in Boston is currently hearing a case involving patents from Singular Computing, which are used by Alphabet’s Google arm to power AI in various products including Google Translate, Gmail, and Google Search. Singular Computing is seeking a record-breaking $7 billion in damages for patent infringement.
Despite the ongoing legal issues, investors remain confident in Alphabet’s future prospects. The company’s stock is trading slightly higher on Tuesday morning, reflecting optimism and resilience in the face of these challenges.
In addition to the patent trial, Google’s legal team is also taking on the state of Ohio in a separate case. The tech giant, along with X and Meta Platforms, is challenging a law that requires parental consent for children under 16 to open social media accounts. They argue that this requirement is unconstitutional and that minors should also have constitutional protections. Instead, the group proposes offering educational resources to help users and families make informed decisions about online services and privacy.
Wall Street analysts continue to have a positive outlook on Alphabet’s stock. With a Strong Buy consensus rating based on five Buy recommendations and one Hold in the past three months, the company’s shares have seen a significant rally of 58.47% in the past year. The average price target of $158.60 per share suggests a potential upside of 11.69%.
As Alphabet faces these legal battles, it remains to be seen how they will impact the tech giant’s future growth and innovation. Investors and analysts will continue to closely monitor the outcomes of these cases and evaluate Alphabet’s investment potential in the ever-evolving AI market.
The source of the article is from the blog j6simracing.com.br