Diamonds and Dogs
Google (GOOGL) jumps 4% on you guessed it AI news. Google at their I/O 2023 Conference announced the launch of a new AI-driven search in response to Microsoft's new AI developments. The moves are meant to prove that Google, which helped pioneer the technology behind Microsoft partner OpenAI's ChatGPT, can match and exceed the Windows maker's offerings in the nascent generative AI space.
Disney (DIS) stock tumbles 8% after the media giant reported quarterly results on Wednesday that showed earnings per share missed estimates by a penny while Disney+ shed 4 million subscribers in the quarter. The subscriber miss comes as streaming losses narrowed amid Disney's continued efforts to slash $5.5 billion in costs this year.
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