** Alphabet GOOGL.O stock last up 0.7% after the Google owner launched an experimental AI-driven search engine that replaces traditional 10 blue links with AI-generated summaries
** The gain in GOOGL compared to a 0.5% rise in the S&P 500 tech index .SPLRCT and a 0.8% increase in the S&P 500 consumer services index .SPLRCL
** The new feature, available to Google One AI Premium subscribers, offers AI summaries with hyperlinks, improving user experience and search capabilities
** Alphabet's 2024 rev of $350 bln was primarily from search-related ads; co faces challenges from AI competitors, highlighting importance of AI integration
** GOOGL down ~9% YTD, compared to 5% fall in Nasdaq .IXIC; recently traded at 18x expected earnings, below 5-year avg forward PE of 23, per LSEG
** Stock ~17% below 52-week intraday high of $207.05 reached on Feb. 4, 2025
(Reporting by Noel Randewich)
((noel.randewich@tr.com;))
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