During an interview with CNBC, Crockett stated that there are long-term risks to Google Search due to all of the money flowing into OpenAI.
Rosenblatt Securities’ Senior Analyst, Barton Crockett, reportedly stated on Monday that the firm’s caution regarding Alphabet Inc.’s (GOOG) (GOOGL) stock is underpinned by the risk to one of the company’s core products, Google Search.
During an interview with CNBC, Crockett stated that there are long-term risks to Google Search due to the significant amount of money flowing into OpenAI.
“If you think that OpenAI generates a return on investment, then you have to be concerned what that means for Alphabet, because OpenAI dominates in LLM-driven kind of search,” he said in the interview.
Alphabet’s Class A shares were up more than 4% in Monday’s midday trade. Retail sentiment on Stocktwits around the company trended in the ‘bullish’ territory at the time of writing.
This comes after Berkshire Hathaway Inc. (BRK-A) (BRK-B) disclosed a $4.34 billion investment in the company’s Class A stock in the third quarter (Q3), according to Berkshire’s 13F filing with the U.S. Securities and Exchange Commission (SEC).
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