11:55 AM EDT, 04/12/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

GOOGL held its Google Cloud Next 2024 event in Las Vegas where it made a host of AI hardware/software announcements. Most notably, GOOGL unveiled its first Arm-based custom silicon CPU (Axion) and latest LLM model update (Gemini 1.5 Pro) that offers new enhanced AI capabilities (e.g., native audio). AI features coming to Google Workspace include Google Vids (an AI video creation tool), Gemini additions to Gmail, and a host of productivity tools that it looks to monetize (e.g., AI note taking/meeting summaries, translation, new security package) at an add-on cost of $10/month per user. GOOGL also announced its Vertex AI Agent Builder, a tool for Enterprises to help build AI agents, and confirmed Blackwell GPUs will be available in 2025. Overall, we come away impressed with GOOGL's new infrastructure and Gemini updates, as it looks to quiet the skeptics that view it as being behind in the AI War in the Cloud. We await GOOGL's I/O Developers Conference on May 14 for more clarity on AI and other initiatives.