Google's Stock Skyrockets 6% Amidst Ground Breaking Gemini AI And Apple Collaboration Talks

• Google's stock increased by 6% following the announcement of potential licensing discussions with Apple.
• Google's potential Apple deal has propelled the stock near its all-time high, facing resistance around the $150 mark.

After the announcement of possible licensing discussions with Apple Inc (NASDAQ: AAPL) over the Gemini AI system, Google's Alphabet Inc Class A (NASDAQ: GOOGL) stock has soared by 6%. This boost reflects the market's optimism about the collaboration and its potential impact.

The Gemini AI system, developed by Google, demonstrates a breakthrough in artificial intelligence capabilities. Its main purpose is to improve iPhone software by handling user commands and creating diverse digital content. It aims to elevate user experience, paving the way for iPhones that are more intuitive and responsive.

In Google's eyes, this potential partnership goes beyond a mere business maneuver. By tapping into Apple's vast and loyal user base, Google stands to significantly expand the reach of its Gemini AI technology.

This newfound access could usher in unparalleled levels of integration between Google's AI prowess and Apple's renowned hardware and software ecosystem. Noteworthy is the fact that Apple's dialogue with Google is not happening in isolation.

The tech company is also in talks with OpenAI, demonstrating a firm dedication to integrating state-of-the-art AI technology into its products.

The recent developments have caused the stock to react positively, with Google's stock value experiencing a significant jump. In 2023, Google's stock staged an impressive recovery, soaring by 51%. Prior to that, during the period from November 2021 to November 2022, the company faced a 44% decline in stock value.

The recovery and positive momentum from 2023 have spilt over into 2024, with the stock recording a 7% increase and reaching new highs. January 2024 was a standout month as the stock price hit an all-time high of $153, only to drop to $130 in early March.

The recent surge, fueled by reports of the potential Apple collaboration, has pushed the stock price close to its peak, but currently encountering resistance at the crucial $150 level.

After the closing bell on Friday, March 15, the stock closed at $141.18, trading down by 1.30%.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.