Google Pre-Market Drops About 2% Due to Computing Power Strain and OpenAI's Advertising Expansion

On October 22, Google (GOOGL) saw a pre-market drop of about 2%. OpenAI announced the expansion of ChatGPT Ads to 26 countries, bringing the total global coverage to 89 countries, with over 100,000 advertisers already using the platform. The advertising business reached an annualized revenue of $1 billion in August. The market views this as a direct competitive threat to Google. Additionally, Google is facing computing power strain, with CEO Sundar Pichai stating that the company is reallocating computing resources, channeling some cloud service computing power into AI research. It is expected that by 2027, securing computing power resources will pose challenges.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.