Alphabet Inc. (GOOGL) Reports Doubling of Gemini App Monthly Users to 900 Million

Alphabet Inc. (NASDAQ:GOOGL) is one of the 10 Best AI Stocks to Buy in June. On June 3, the company said its Gemini app engagement doubled to over 900 million monthly active users as of May, compared to the same period last year, according to a report by Investing.com.

Mizuho Boosts Alphabet Target as Google (GOOG) Cloud Outlook Strengthens

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The company said paid subscriptions grew to 350 million users, while AI Overviews now serve more than 2.5 billion users monthly. Across its platforms, Alphabet processes 3.2 quadrillion tokens monthly.

Given the growing number of users of the Gemini app, the technology firm announced an $84.75 billion capital raise to fund artificial intelligence infrastructure expansion.

Out of 72 analyst ratings compiled by CNN, 86% rated Alphabet Buy, while 14% assigned it Hold. The stock has an average price target of $430, a 16.68% upside from the current price of $368.53.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company that engages in software, health care, transportation, and other technologies. It owns several notable platforms, including Google Search, Google Maps, Gmail, and YouTube. The company is also known for pioneering work and research in cloud computing, quantum computing, and artificial intelligence

While we acknowledge the risk and potential of GOOGL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GOOGL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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