Alphabet Class C ( (GOOG) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alphabet Class C, the parent company of Google, has been ordered by a German court to pay €573 million (approximately $666 million) to two German price-comparison websites, Idealo and Producto GmbH, following a European Union crackdown on Google’s market dominance. This ruling is linked to a 2017 decision by the European Commission, which fined Google €2.4 billion for unfairly promoting its own shopping service. Although Google plans to appeal the decision, the court’s ruling highlights ongoing regulatory challenges for the tech giant.
In a separate development, Alphabet has launched a new AI platform called Private AI Compute, which aims to enhance cloud-based AI capabilities while ensuring user data privacy. This platform utilizes Google’s custom Tensor Processing Units and Titanium Intelligence Enclaves to secure data, offering users the benefits of cloud AI without compromising privacy. Despite these challenges, Wall Street analysts maintain a Strong Buy consensus on Alphabet’s stock, with a price target suggesting a potential upside.