Will AI innovations topple Alphabet's market leadership?

The latest driver of tech returns globally has been Generative AI. Alphabet has pioneered many algorithms that help train large language models. However, with the dramatic entry of ChatGPT backed by Microsoft, Alphabet appears to have lost some of its sheen. Its attempt to launch Bard, the answer to ChatGPT, was marred by the engine generating incorrect answers. This was embarrassingly repeated, with its successor Gemini generating incorrect images of the Moon landing depicting a woman and an African American. Not surprisingly, Alphabet's stock price has languished compared to other similar technology leaders.