Google lost 740 billion on the PK fiasco

Published 27 February 2024 at 18.54

Foreign. Google's parent company lost 70 billion dollars – the equivalent of 740 billion kroner – in market value in a single trading day after the scandal surrounding the internet giant's anti-white AI tools. It is reported by the New York Post.

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The AI ​​service Gemini was recently launched. It quickly proved so politically correct that it refused to even depict white people – and because of the attention, Google chose to pause the image generation­works­fabric to fix the problem.

The scandal has a clear impact on the stock market. Shares in Google parent Alphabet fell 4.4 percent on Monday, the first day of trading after the weekend's scandalous headlines.

The anti-white chatbot backlash could fuel public concern that Google is 'an unreliable source of AI', Ben Reitzes, analyst at Melius Research, in a mailing to investors.

On Tuesday, the Alphabet share remained at the same low level as on Monday.


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