Google co-founders gain $17 billion as AI boost lifts stock

Google co-founders, Larry Page and Sergey Brin, have reportedly gained $17 billion due to the company’s latest boost in stock price, which has been propelled by advances in artificial intelligence (AI). The search engine giant’s parent company, Alphabet Inc., announced better-than-expected earnings in its latest quarterly report, with a revenue of $61.88 billion, up 62% from the previous year. This was mainly due to increased advertising revenue from its search and YouTube platforms.

The company’s shares have risen by around 90% over the past year, giving Google co-founders a significant boost in their net worth. Larry Page and Sergey Brin stepped down from their roles as CEO and President, respectively, in December 2019, and since then have continued to hold seats on the company’s board. They are among the world’s richest people, with a combined net worth of around $180 billion.

Google has been investing heavily in artificial intelligence, which has helped to drive the company’s revenue growth. The company has been focusing on developing AI tools that can help automate a range of tasks and make its products and services more useful to customers. For example, Google’s AI-powered voice assistant, Google Assistant, is now able to understand and respond to a wider range of queries, including those that are more complex or nuanced.

The company has also been investing in other areas of AI, such as machine learning and natural language processing. These technologies are being used to improve Google’s search algorithms, as well as to develop new products and services that can better meet the needs of its customers. For example, Google is using machine learning to develop new features for its Google Photos app, such as automatic photo editing and object recognition.

The rise of AI has been a key driver of Google’s success in recent years, and the company is continuing to invest heavily in this area. With the ongoing development of new AI tools and technologies, it is likely that Google will continue to see strong revenue growth in the coming years, and its co-founders’ net worth will likely continue to rise along with it.

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